As carmakers race to offer marvelous new models to well-off Chinese, the out-dated golf truck is the most smoking purchase in one corner of Hong Kong, with costs beating those of a Tesla Model S and Porsche’s Boxster sports autos.
On the two-path avenues of Discovery Bay — a private advancement around a 30-minute ship ride from downtown Hong Kong — the golf trucks are both the transportation decision and a venture play for the well off. The surveys can offer for more than HK$2 million ($255,000) in the upscale neighborhood that is home to aircraft pilots, financiers, and legal counselors.
Business administrators drive them, exiles love them and caretakers ship children to class in them. Private traveler autos aren’t permitted in this area, and the Transport Department has topped golf-truck licenses at around 500. The supply crunch has changed these moderate gas-guzzlers into extravagance transportation. A few purchasers see them as ventures — leasing them out or exchanging to profit.
Ludicrously high costs aren’t a peculiarity in Hong Kong. Asia’s monetary capital routinely shows up on arrangements of the world’s most costly urban areas, and property costs are the world’s most unreasonably expensive in respect to salary. Looked with absolute bottom financing costs and taking off lodging costs, city inhabitants have been known to put their cash into abnormal speculations — including extravagant parking garages and taxi emblems.
“You have HK$2 million, better purchase a golf surrey as opposed to placing it in the bank,” said Bill Chan, a chief at land office Century 21 Newcourt Realty in Discovery Bay.
Golf trucks can be purchased for under $10,000 in the U.S. In Discovery Bay, purchasers are basically paying for the licenses, which must be claimed by occupants who additionally possess property. They can be unreservedly exchanged between singular proprietors.
That prompts costs commonly connected with extravagance wheels — the sorts that incorporate windows, aerating and cooling and a trunk. Tesla records its Model S at HK$1.03 million, and Porsche records its 718 Boxster show at HK$972,000 on its site.
Golf trucks draw in purchasers somewhat due to the rebuffing expense of land interests in Hong Kong: It isn’t much you can purchase in the property advertised on the off chance that you have HK$2 million to save.