Chapter 274: 【Down and Down】
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Chapter 274【Endlessly Falling Down】
The property prices and land prices on Hong Kong Island finally collapsed in December 1957.
This wave of real estate cycle is also freshly released, that is, from 1953 to 1957; Kowloon property prices rose from 15 Hong Kong dollars per square foot to 45 Hong Kong dollars per square foot, an increase of 300%. The price of residential land in Kowloon has risen from HK$6 per square foot to HK$30 per square foot, an increase of 500%.
As for the reasons for this wave of increase, there are probably three points:
First, the external environment-the Korean War ended, the United States lifted the trade ban, and the situation on Hong Kong Island stabilized!
Second, foreign capital enters the market-a large amount of Southeast Asian capital has fled to Hong Kong Island, and there is ample hot money, and most of the capital in Southeast Asia has penetrated into real estate.
Third, the staged and layered make full use of, the real estate speculation is hot!
There are two reasons for the collapse of the real estate industry in December 1957:
First: Land prices and property prices have risen rapidly, speculation is fierce, and off-plan speculation is prevalent. As long as a deposit of 5% to 10% is paid, off-the-plan properties can be purchased and speculated.
Second: After foreign capital and Chinese capital have entered the market one after another, the buildings on Hong Kong Island were already in a state of oversupply in the first half of 1957.
1958, after the Spring Festival!
In the conference room of Cheung Kong Holdings, the management team talked and laughed relaxedly; because Cheung Kong Holdings not only escaped the catastrophe, but also made a lot of money.
In the three years from 1955 to 1957, Cheung Kong has developed four large-scale residential buildings and one large-scale commercial complex; among them, the initial profit of four buildings was estimated to be 70 million Hong Kong dollars. Unexpectedly, the higher the property price, the higher. It turned out to be 15 million Hong Kong dollars more than expected, reaching 85 million Hong Kong dollars.
Sold the 500,000 square feet of land in the central area of the island at a high price, and Cheung Kong Holdings also made a profit of 25 million Hong Kong dollars.
As soon as Wu Guangyao walked into the meeting room, everyone stopped talking and laughing and looked at Wu Guangyao with admiration!
It is the boss who asked Cheung Kong to choose the most appropriate time for real estate entry (high-rise buildings allowed);
It was the boss again, who allowed Cheung Kong to withdraw in time to avoid huge losses.
"What's the situation outside now?" Wu Guangyao asked after sitting down.
Wu Guangyao naturally knows what is going on outside, but what he wants is the specific situation.
"A wailing! Hong Kong Island residents are now talking about properties, and the transaction volume in the property and land markets is extremely low; even if the property prices in Kowloon have dropped to 25 Hong Kong dollars per square foot, real estate developers still can’t sell. Many real estate developers are speculative. , Lending a lot, and at this time they have been pegged by banks." Xiu Yanbing said, because it’s nothing to do, his tone is somewhat gloating; if it is replaced by Changjiang Industrial, it will definitely be able to survive the difficulties, not only Wu Guangyao, the **** of wealth. ; And the houses of Changjiang Industrial are selling quickly, so the funds are returned quickly.
Wu Guangyao nodded, almost as he had expected, but the worst is yet to come;
I know that in 1958, land and property prices on Hong Kong Island fell by 70% to 80%.
"How much funds does Cheung Kong have available?" Wu Guangyao asked again.
When everyone heard it, they thought that Wu Guangyao was going to buy the bottom, and they all came to their spirits.
"Only HK$40 million is available, because you said that the Yangtze River Center commercial body reserves enough funds, so there are HK$40 million that cannot be used." Shi Jun said.
The Yangtze River Center commercial complex has already spent 30 million Hong Kong dollars in materials and construction costs, and 40 million Hong Kong dollars have been reserved as follow-up expenses.
The construction cost of the entire Yangtze River Center is estimated at 70 million Hong Kong dollars, plus the land value, the total investment is close to 100 million.
A management could not help asking: "Boss, think we should buy the bottom?"
Wu Guangyao was taken aback, and immediately said: "Now we are going to hunt down the bottom, aren't we Changjiang Industrial becoming the catcher?"
"Panman?" The management questioned again. The boss said something that everyone didn't understand!
"The so-called pick-up man means that a woman becomes pregnant because she has **** with her beloved; but a certain woman’s sweetheart abandons her, and then a certain woman finds another man to form a family; then that man is the pick-up man. , That is, picking up the placenta left by others!" Wu Guangyao explained.
Everyone burst out laughing, the boss told this story really well!
This is not a metaphor, Cheung Kong is now buying the bottom, isn’t it just a catcher?
"So, everyone should still concentrate on developing the business of Cheung Kong Industrial. Don't think about buying the bottom! There is a basement under the first floor, and there are 18 hells under the basement!" Wu Guangyao warned everyone.
"The boss said it is very reasonable!" Everyone agreed. The boss's vision is quite vicious, and it must be right to believe him.
No one knows when the bottom is, so few people dare to buy the bottom!
Of course, later famous real estate friends like Li Chaoren and Zheng Yutong are typical bargain-hunters.
However, in front of Wu Guangyao, they are afraid that they are not even qualified to carry shoes!
Wu Guangyao did a copy of the bottom from the end of 1949 to the end of 1950; the land valued at 8 million Hong Kong dollars at that time was worth about 75 million Hong Kong dollars in 1957.
Wailed, describing the real estate industry on Hong Kong Island now!
Since there is no business of his own, Wu Guangyao has also devoted his energy to other industries.
Hong Kong Island Airlines has developed well over the years, thanks to a number of measures provided by Wu Guangyao.
Service and safety are undoubtedly the two most important points in the aviation industry!
In terms of service, Island Airlines recruits flight attendants throughout Asia, giving Island Airlines an international feel. Unlike Dongying’s airline flight attendants who wear kimonos, they put too much emphasis on their own national characteristics, which makes passengers from other countries a bit awkward; the enthusiasm and politeness of the flight attendants, as well as the addition of various styles of meals and drinks.
Safety is mainly derived from the performance of the aircraft. Because Wu Guangyao knows the representative models of each era, Hong Kong Island Airlines will not buy an aircraft that leads to hell. At the same time, to strengthen the professionalism of the pilots, Shiyoke of Swire Pacific once encountered a scary thing, that is, taking a flight in the United States, the pilot actually took his girlfriend on the plane, and the two kissed and provoked. The passengers trembled. It is precisely because of the liberal romanticism of American pilots that Schyoke made up his mind to develop the aviation industry on Hong Kong Island.
We have done both of these aspects. In addition, Island Airlines is a local airline and has a great advantage over foreign airlines in terms of routes. Therefore, in recent years, Island Airlines has begun to develop steadily.
The gap between the two local airlines on the Hong Kong Island-South-North route began to narrow!
In 1957, Island Airlines made a profit of 2.8 million U.S. dollars. Three subsidiaries-Island Aircraft Mechanic Company, Island Airlines Catering Company, and Island Airport Services Company, also began to make profits, totaling $350,000.
Although Wu Guangyao had an unhappy relationship with Jardine Matheson (acquiring Hong Kong Island Airlines), they have been in peace;
However, whenever Wu Guangyao holds a meeting on Island Airlines, the Jardine Matheson will be there as much as possible, and an executive will also be sent when he is not on Hong Kong Island;
Presumably he is supervising Wu Guangyao, for fear that Wu Guangyao will leave Jardine Matheson on Hong Kong Island Airlines!
Of course, because of the partner, Wu Guangyao has always notified Jardine Matheson.
"I plan to buy two new passenger planes!" Wu Guangyao said directly.
At present, Island Airlines has only six passenger planes, three new Viscount passenger planes, and three old-fashioned planes, lagging behind Cathay Pacific’s nine passenger planes.
Keswick did not object to the purchase of the passenger plane, but asked: "Or buy the British Viscount passenger plane?"
"Of course not. The Viscount airliner can no longer satisfy Island Airlines, so I decided to buy two Boeing 707s from Boeing. I believe you all have heard of it, right?"
(End of this chapter)
Please report us if you find any errors so we can fix it asap!
Chapter 274【Endlessly Falling Down】
The property prices and land prices on Hong Kong Island finally collapsed in December 1957.
This wave of real estate cycle is also freshly released, that is, from 1953 to 1957; Kowloon property prices rose from 15 Hong Kong dollars per square foot to 45 Hong Kong dollars per square foot, an increase of 300%. The price of residential land in Kowloon has risen from HK$6 per square foot to HK$30 per square foot, an increase of 500%.
As for the reasons for this wave of increase, there are probably three points:
First, the external environment-the Korean War ended, the United States lifted the trade ban, and the situation on Hong Kong Island stabilized!
Second, foreign capital enters the market-a large amount of Southeast Asian capital has fled to Hong Kong Island, and there is ample hot money, and most of the capital in Southeast Asia has penetrated into real estate.
Third, the staged and layered make full use of, the real estate speculation is hot!
There are two reasons for the collapse of the real estate industry in December 1957:
First: Land prices and property prices have risen rapidly, speculation is fierce, and off-plan speculation is prevalent. As long as a deposit of 5% to 10% is paid, off-the-plan properties can be purchased and speculated.
Second: After foreign capital and Chinese capital have entered the market one after another, the buildings on Hong Kong Island were already in a state of oversupply in the first half of 1957.
1958, after the Spring Festival!
In the conference room of Cheung Kong Holdings, the management team talked and laughed relaxedly; because Cheung Kong Holdings not only escaped the catastrophe, but also made a lot of money.
In the three years from 1955 to 1957, Cheung Kong has developed four large-scale residential buildings and one large-scale commercial complex; among them, the initial profit of four buildings was estimated to be 70 million Hong Kong dollars. Unexpectedly, the higher the property price, the higher. It turned out to be 15 million Hong Kong dollars more than expected, reaching 85 million Hong Kong dollars.
Sold the 500,000 square feet of land in the central area of the island at a high price, and Cheung Kong Holdings also made a profit of 25 million Hong Kong dollars.
As soon as Wu Guangyao walked into the meeting room, everyone stopped talking and laughing and looked at Wu Guangyao with admiration!
It is the boss who asked Cheung Kong to choose the most appropriate time for real estate entry (high-rise buildings allowed);
It was the boss again, who allowed Cheung Kong to withdraw in time to avoid huge losses.
"What's the situation outside now?" Wu Guangyao asked after sitting down.
Wu Guangyao naturally knows what is going on outside, but what he wants is the specific situation.
"A wailing! Hong Kong Island residents are now talking about properties, and the transaction volume in the property and land markets is extremely low; even if the property prices in Kowloon have dropped to 25 Hong Kong dollars per square foot, real estate developers still can’t sell. Many real estate developers are speculative. , Lending a lot, and at this time they have been pegged by banks." Xiu Yanbing said, because it’s nothing to do, his tone is somewhat gloating; if it is replaced by Changjiang Industrial, it will definitely be able to survive the difficulties, not only Wu Guangyao, the **** of wealth. ; And the houses of Changjiang Industrial are selling quickly, so the funds are returned quickly.
Wu Guangyao nodded, almost as he had expected, but the worst is yet to come;
I know that in 1958, land and property prices on Hong Kong Island fell by 70% to 80%.
"How much funds does Cheung Kong have available?" Wu Guangyao asked again.
When everyone heard it, they thought that Wu Guangyao was going to buy the bottom, and they all came to their spirits.
"Only HK$40 million is available, because you said that the Yangtze River Center commercial body reserves enough funds, so there are HK$40 million that cannot be used." Shi Jun said.
The Yangtze River Center commercial complex has already spent 30 million Hong Kong dollars in materials and construction costs, and 40 million Hong Kong dollars have been reserved as follow-up expenses.
The construction cost of the entire Yangtze River Center is estimated at 70 million Hong Kong dollars, plus the land value, the total investment is close to 100 million.
A management could not help asking: "Boss, think we should buy the bottom?"
Wu Guangyao was taken aback, and immediately said: "Now we are going to hunt down the bottom, aren't we Changjiang Industrial becoming the catcher?"
"Panman?" The management questioned again. The boss said something that everyone didn't understand!
"The so-called pick-up man means that a woman becomes pregnant because she has **** with her beloved; but a certain woman’s sweetheart abandons her, and then a certain woman finds another man to form a family; then that man is the pick-up man. , That is, picking up the placenta left by others!" Wu Guangyao explained.
Everyone burst out laughing, the boss told this story really well!
This is not a metaphor, Cheung Kong is now buying the bottom, isn’t it just a catcher?
"So, everyone should still concentrate on developing the business of Cheung Kong Industrial. Don't think about buying the bottom! There is a basement under the first floor, and there are 18 hells under the basement!" Wu Guangyao warned everyone.
"The boss said it is very reasonable!" Everyone agreed. The boss's vision is quite vicious, and it must be right to believe him.
No one knows when the bottom is, so few people dare to buy the bottom!
Of course, later famous real estate friends like Li Chaoren and Zheng Yutong are typical bargain-hunters.
However, in front of Wu Guangyao, they are afraid that they are not even qualified to carry shoes!
Wu Guangyao did a copy of the bottom from the end of 1949 to the end of 1950; the land valued at 8 million Hong Kong dollars at that time was worth about 75 million Hong Kong dollars in 1957.
Wailed, describing the real estate industry on Hong Kong Island now!
Since there is no business of his own, Wu Guangyao has also devoted his energy to other industries.
Hong Kong Island Airlines has developed well over the years, thanks to a number of measures provided by Wu Guangyao.
Service and safety are undoubtedly the two most important points in the aviation industry!
In terms of service, Island Airlines recruits flight attendants throughout Asia, giving Island Airlines an international feel. Unlike Dongying’s airline flight attendants who wear kimonos, they put too much emphasis on their own national characteristics, which makes passengers from other countries a bit awkward; the enthusiasm and politeness of the flight attendants, as well as the addition of various styles of meals and drinks.
Safety is mainly derived from the performance of the aircraft. Because Wu Guangyao knows the representative models of each era, Hong Kong Island Airlines will not buy an aircraft that leads to hell. At the same time, to strengthen the professionalism of the pilots, Shiyoke of Swire Pacific once encountered a scary thing, that is, taking a flight in the United States, the pilot actually took his girlfriend on the plane, and the two kissed and provoked. The passengers trembled. It is precisely because of the liberal romanticism of American pilots that Schyoke made up his mind to develop the aviation industry on Hong Kong Island.
We have done both of these aspects. In addition, Island Airlines is a local airline and has a great advantage over foreign airlines in terms of routes. Therefore, in recent years, Island Airlines has begun to develop steadily.
The gap between the two local airlines on the Hong Kong Island-South-North route began to narrow!
In 1957, Island Airlines made a profit of 2.8 million U.S. dollars. Three subsidiaries-Island Aircraft Mechanic Company, Island Airlines Catering Company, and Island Airport Services Company, also began to make profits, totaling $350,000.
Although Wu Guangyao had an unhappy relationship with Jardine Matheson (acquiring Hong Kong Island Airlines), they have been in peace;
However, whenever Wu Guangyao holds a meeting on Island Airlines, the Jardine Matheson will be there as much as possible, and an executive will also be sent when he is not on Hong Kong Island;
Presumably he is supervising Wu Guangyao, for fear that Wu Guangyao will leave Jardine Matheson on Hong Kong Island Airlines!
Of course, because of the partner, Wu Guangyao has always notified Jardine Matheson.
"I plan to buy two new passenger planes!" Wu Guangyao said directly.
At present, Island Airlines has only six passenger planes, three new Viscount passenger planes, and three old-fashioned planes, lagging behind Cathay Pacific’s nine passenger planes.
Keswick did not object to the purchase of the passenger plane, but asked: "Or buy the British Viscount passenger plane?"
"Of course not. The Viscount airliner can no longer satisfy Island Airlines, so I decided to buy two Boeing 707s from Boeing. I believe you all have heard of it, right?"
(End of this chapter)
Chapter 274Endlessly Falling DownThe property prices and land prices on Hong Kong Island finally collapsed in December 1957.This wave of real estate cycle is also freshly released, that is, from 1953 to 1957; Kowloon property prices rose from 15 Hong Kong dollars per square foot to 45 Hong Kong dollars per square foot, an increase of 300%. The price of residential land in Kowloon has risen from HK$6 per square foot to HK$30 per square foot, an increase of 500%.As for the reasons for this wave of increase, there are probably three points:First, the external environment-the Korean War ended, the United States lifted the trade ban, and the situation on Hong Kong Island stabilized!Second, foreign capital enters the market-a large amount of Southeast Asian capital has fled to Hong Kong Island, and there is ample hot money, and most of the capital in Southeast Asia has penetrated into real estate.Third, the staged and layered make full use of, the real estate speculation is hot!There are two reasons for the collapse of the real estate industry in December 1957:First: Land prices and property prices have risen rapidly, speculation is fierce, and off-plan speculation is prevalent. As long as a deposit of 5% to 10% is paid, off-the-plan properties can be purchased and speculated.Second: After foreign capital and Chinese capital have entered the market one after another, the buildings on Hong Kong Island were already in a state of oversupply in the first half of 1957.1958, after the Spring Festival!In the conference room of Cheung Kong Holdings, the management team talked and laughed relaxedly; because Cheung Kong Holdings not only escaped the catastrophe, but also made a lot of money.In the three years from 1955 to 1957, Cheung Kong has developed four large-scale residential buildings and one large-scale commercial complex; among them, the initial profit of four buildings was estimated to be 70 million Hong Kong dollars. Unexpectedly, the higher the property price, the higher. It turned out to be 15 million Hong Kong dollars more than expected, reaching 85 million Hong Kong dollars.Sold the 500,000 square feet of land in the central area of the island at a high price, and Cheung Kong Holdings also made a profit of 25 million Hong Kong dollars.As soon as Wu Guangyao walked into the meeting room, everyone stopped talking and laughing and looked at Wu Guangyao with admiration!It is the boss who asked Cheung Kong to choose the most appropriate time for real estate entry high-rise buildings allowed;It was the boss again, who allowed Cheung Kong to withdraw in time to avoid huge losses."What's the situation outside now?" Wu Guangyao asked after sitting down.Wu Guangyao naturally knows what is going on outside, but what he wants is the specific situation."A wailing! Hong Kong Island residents are now talking about properties, and the transaction volume in the property and land markets is extremely low; even if the property prices in Kowloon have dropped to 25 Hong Kong dollars per square foot, real estate developers still can't sell. Many real estate developers are speculative. , Lending a lot, and at this time they have been pegged by banks." Xiu Yanbing said, because it's nothing to do, his tone is somewhat gloating; if it is replaced by Changjiang Industrial, it will definitely be able to survive the difficulties, not only Wu Guangyao, the **** of wealth. ; And the houses of Changjiang Industrial are selling quickly, so the funds are returned quickly.Wu Guangyao nodded, almost as he had expected, but the worst is yet to come;I know that in 1958, land and property prices on Hong Kong Island fell by 70% to 80%."How much funds does Cheung Kong have available?" Wu Guangyao asked again.When everyone heard it, they thought that Wu Guangyao was going to buy the bottom, and they all came to their spirits."Only HK$40 million is available, because you said that the Yangtze River Center commercial body reserves enough funds, so there are HK$40 million that cannot be used." Shi Jun said.The Yangtze River Center commercial complex has already spent 30 million Hong Kong dollars in materials and construction costs, and 40 million Hong Kong dollars have been reserved as follow-up expenses.The construction cost of the entire Yangtze River Center is estimated at 70 million Hong Kong dollars, plus the land value, the total investment is close to 100 million.A management could not help asking: "Boss, think we should buy the bottom?"Wu Guangyao was taken aback, and immediately said: "Now we are going to hunt down the bottom, aren't we Changjiang Industrial becoming the catcher?""Panman?" The management questioned again. The boss said something that everyone didn't understand!"The so-called pick-up man means that a woman becomes pregnant because she has **** with her beloved; but a certain woman's sweetheart abandons her, and then a certain woman finds another man to form a family; then that man is the pick-up man. , That is, picking up the placenta left by others!" Wu Guangyao explained.Everyone burst out laughing, the boss told this story really well!This is not a metaphor, Cheung Kong is now buying the bottom, isn't it just a catcher?"So, everyone should still concentrate on developing the business of Cheung Kong Industrial. Don't think about buying the bottom! There is a basement under the first floor, and there are 18 hells under the basement!" Wu Guangyao warned everyone."The boss said it is very reasonable!" Everyone agreed. The boss's vision is quite vicious, and it must be right to believe him.No one knows when the bottom is, so few people dare to buy the bottom!Of course, later famous real estate friends like Li Chaoren and Zheng Yutong are typical bargain-hunters.However, in front of Wu Guangyao, they are afraid that they are not even qualified to carry shoes!Wu Guangyao did a copy of the bottom from the end of 1949 to the end of 1950; the land valued at 8 million Hong Kong dollars at that time was worth about 75 million Hong Kong dollars in 1957.Wailed, describing the real estate industry on Hong Kong Island now!Since there is no business of his own, Wu Guangyao has also devoted his energy to other industries.Hong Kong Island Airlines has developed well over the years, thanks to a number of measures provided by Wu Guangyao.Service and safety are undoubtedly the two most important points in the aviation industry!In terms of service, Island Airlines recruits flight attendants throughout Asia, giving Island Airlines an international feel. Unlike Dongying's airline flight attendants who wear kimonos, they put too much emphasis on their own national characteristics, which makes passengers from other countries a bit awkward; the enthusiasm and politeness of the flight attendants, as well as the addition of various styles of meals and drinks.Safety is mainly derived from the performance of the aircraft. Because Wu Guangyao knows the representative models of each era, Hong Kong Island Airlines will not buy an aircraft that leads to hell. At the same time, to strengthen the professionalism of the pilots, Shiyoke of Swire Pacific once encountered a scary thing, that is, taking a flight in the United States, the pilot actually took his girlfriend on the plane, and the two kissed and provoked. The passengers trembled. It is precisely because of the liberal romanticism of American pilots that Schyoke made up his mind to develop the aviation industry on Hong Kong Island.We have done both of these aspects. In addition, Island Airlines is a local airline and has a great advantage over foreign airlines in terms of routes. Therefore, in recent years, Island Airlines has begun to develop steadily.The gap between the two local airlines on the Hong Kong Island-South-North route began to narrow!In 1957, Island Airlines made a profit of 2.8 million U.S. dollars. Three subsidiaries-Island Aircraft Mechanic Company, Island Airlines Catering Company, and Island Airport Services Company, also began to make profits, totaling $350,000.Although Wu Guangyao had an unhappy relationship with Jardine Matheson acquiring Hong Kong Island Airlines, they have been in peace;However, whenever Wu Guangyao holds a meeting on Island Airlines, the Jardine Matheson will be there as much as possible, and an executive will also be sent when he is not on Hong Kong Island;Presumably he is supervising Wu Guangyao, for fear that Wu Guangyao will leave Jardine Matheson on Hong Kong Island Airlines!Of course, because of the partner, Wu Guangyao has always notified Jardine Matheson."I plan to buy two new passenger planes!" Wu Guangyao said directly.At present, Island Airlines has only six passenger planes, three new Viscount passenger planes, and three old-fashioned planes, lagging behind Cathay Pacific's nine passenger planes.Keswick did not object to the purchase of the passenger plane, but asked: "Or buy the British Viscount passenger plane?""Of course not. The Viscount airliner can no longer satisfy Island Airlines, so I decided to buy two Boeing 707s from Boeing. I believe you all have heard of it, right?"End of this chapter
