While it is a known fact that buying a property in Hong Kong is almost a mission impossible, some caring employers are dedicated to help employees fulfill their property dreams.
Earlier in the month HSBC announced it will loan staff 120 times their salary from them to buy a place to live and last week. Celebrity fortune teller Mak Ling Ling gave a female employee the ultimate perk- paid for the first instalment of her apartment that is worth HK$7.7 million, the Property Station reports.
Paying for first instalment is what many middle-class parents would do for their kids if they can afford it and Mak is doing the same for an employee.
Mak said she wanted to help a post-80 colleague who has to move from apartment to apartment because she cannot afford the rent. The colleague is currently staying in a home ownership scheme flat in Chai Wan.
With limited capital, her initial plan was to purchase an old apartment near the Chun Yeung Street wet market at North Point that is worth HK$3.85 million.
Mak thinks buying apartments at a new housing estate is a better investment so she she stepped in paid HK$3.85 million as the first instalment for a HK$7.7 million apartment at Grand Promenade, a housing estate at Sai Wan Ho for the colleague.
It was reported the apartment is a 2-room flat with a saleable area of 498 square feet.
Mak and the colleague will co-own the apartment. The colleague will pay Mak $9000 per month as rent to live there and repay the mortgage, according to estimations she has to shell out around HK$25,000 a month.
Great job by Mak showing that she cares, but there is a catch, what if the employee decides she want to change job?