Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
Brandon Donnelly
Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly.
I came across this Hong Kong apartment listing earlier in the week. Sai Ying Pun is the neighborhood.

HK$9.8 million = C$1,554,833 based on today’s exchange rate (1 CAD = 6.30293 HKD).
At 432 square feet (net), that’s C$3,599 psf. But I have also been told that new buildings here could easily fetch C$5,000 psf and probably much more.
There’s certainly a tremendous amount of wealth in Hong Kong. However, the topic of discussion right now is the new money being generated in mainland China.
I am curious what all of this could mean for Hong Kong, it’s place within the PRC, and for real estate long-term.
Hong Kong’s Basic Law stipulates that the region shall maintain a capitalist system and that its current way of life shall be preserved outside of the PRC.
But that constitutional document is set to expire in 2047 – fifty years after the handover from the British. And one would assume that China would favor more, rather than less, integration.
Already the Cantonese language – the official language of HK along with English – seems to be getting diluted in favor of the “speech of the officials.”
So what will Hong Kong look like by the middle of the 21st century? Will it simply become a “second city” to Beijing and Shanghai?
Place your bets in the comments below. Or call Miss Winnie.

The New York Times recently published “a portrait of new single-family homes” in the US in 2016. Here’s that portrait:

For those of those living in dense urban centers, this portrait is perhaps a reminder that in many other places a large single-family home can be had for about the price of a studio apartment.
Nothing in the above portrait likely surprised you, but it’s interesting to note that over half of all new single family homes delivered last year were in “The South.” Only 7% were built in the dense northeast.

In the words of Mike Bloomberg, then mayor of New York: “We’re the level of government closest to the majority of the world’s people. We’re directly responsible for their well-being and their futures. So while nations talk, but too often drag their heels, cities act”. Whereas diplomacy is carried out for the state, paradiplomacy is executed for the population.
Rodrigo Tavares has an interesting article up at the World Economic Forum talking about the rise of foreign policy and international relations at the local level. The argument is that as cities rise (and they are certainly rising) paradiplomacy is inevitable.
He admits that the diplomatic networks tend to be stronger for regions who have “flirted with sovereignty.” Regions such as Quebec, Catalonia, and Scotland are given as examples. However, this shift is by no means exclusive to them. Lots of examples in his article.
It is also manifesting itself very differently compared to at the national level. And that’s part of the advantage. One example is London & Partners, which is an arm of the City of London that sells consulting services to other cities and nations who want to replicate its successes. Do nations do this?
I have argued before on this blog that our governance structures do not accurately reflect today’s urban reality. Rodrigo’s article is a reminder that we continue to underestimate the role of cities in the global economy.
I came across this Hong Kong apartment listing earlier in the week. Sai Ying Pun is the neighborhood.

HK$9.8 million = C$1,554,833 based on today’s exchange rate (1 CAD = 6.30293 HKD).
At 432 square feet (net), that’s C$3,599 psf. But I have also been told that new buildings here could easily fetch C$5,000 psf and probably much more.
There’s certainly a tremendous amount of wealth in Hong Kong. However, the topic of discussion right now is the new money being generated in mainland China.
I am curious what all of this could mean for Hong Kong, it’s place within the PRC, and for real estate long-term.
Hong Kong’s Basic Law stipulates that the region shall maintain a capitalist system and that its current way of life shall be preserved outside of the PRC.
But that constitutional document is set to expire in 2047 – fifty years after the handover from the British. And one would assume that China would favor more, rather than less, integration.
Already the Cantonese language – the official language of HK along with English – seems to be getting diluted in favor of the “speech of the officials.”
So what will Hong Kong look like by the middle of the 21st century? Will it simply become a “second city” to Beijing and Shanghai?
Place your bets in the comments below. Or call Miss Winnie.

The New York Times recently published “a portrait of new single-family homes” in the US in 2016. Here’s that portrait:

For those of those living in dense urban centers, this portrait is perhaps a reminder that in many other places a large single-family home can be had for about the price of a studio apartment.
Nothing in the above portrait likely surprised you, but it’s interesting to note that over half of all new single family homes delivered last year were in “The South.” Only 7% were built in the dense northeast.

In the words of Mike Bloomberg, then mayor of New York: “We’re the level of government closest to the majority of the world’s people. We’re directly responsible for their well-being and their futures. So while nations talk, but too often drag their heels, cities act”. Whereas diplomacy is carried out for the state, paradiplomacy is executed for the population.
Rodrigo Tavares has an interesting article up at the World Economic Forum talking about the rise of foreign policy and international relations at the local level. The argument is that as cities rise (and they are certainly rising) paradiplomacy is inevitable.
He admits that the diplomatic networks tend to be stronger for regions who have “flirted with sovereignty.” Regions such as Quebec, Catalonia, and Scotland are given as examples. However, this shift is by no means exclusive to them. Lots of examples in his article.
It is also manifesting itself very differently compared to at the national level. And that’s part of the advantage. One example is London & Partners, which is an arm of the City of London that sells consulting services to other cities and nations who want to replicate its successes. Do nations do this?
I have argued before on this blog that our governance structures do not accurately reflect today’s urban reality. Rodrigo’s article is a reminder that we continue to underestimate the role of cities in the global economy.

New York City sits at the top with an average rent of $4.98 psf. This is across all boroughs. I am surprised by how low some of these international rents are. But averages rarely tell you the whole story.
In any event, I do think that these two graphics start to speak to the economic spikiness that we are seeing across the US.


New York City sits at the top with an average rent of $4.98 psf. This is across all boroughs. I am surprised by how low some of these international rents are. But averages rarely tell you the whole story.
In any event, I do think that these two graphics start to speak to the economic spikiness that we are seeing across the US.

Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog
Share Dialog