Real Estate Industry in Asia
Working for a commercial real estate company, I was expecting to gain exposure to facets of the real estate industry, however, I did not realize how much it impacts business in Hong Kong. The hub for businesses is Central which has the most expensive real estate prices in the world. The company I work for used to have its office in Central, but decided to move to a new location for a better deal. The office is still in a great location, dining venues and athletic facilities near by make it very easy to grab a quick lunch and work out around office hours. The cost per square foot in Central is between $100-200 per square foot, where it is approximately $11 in Wong Chuk Hang. Real estate prices are continuing to rise which is pressuring many businesses to move locations so The Executive Centre is ahead of the game in that sense.
While this was difficult for me when trying to find cheap housing this summer, I also viewed it as an opportunity for success in real estate in Asia. I also have an interest in real estate which essentially led me to this internship, however, I have never considered working in real estate in a location other than the U.S. Living in Hong Kong has allowed me to see the opportunity in Asia and I can definitely see myself working for a real estate company here.