Real Estate
Floating Dwellings Turn Into Value Traps for Hong Kong Expats
- About 180 families told to move vessels by the end of year
- Cost of living on boats still favorable in city like Hong Kong
About 180 families living on board vessels in Hong Kong’s Discovery Bay are having their boats severely rocked, and it isn’t because of the typhoons that regularly sweep through the city around this time of year.
Residents at the cove’s marina have been hit with unexpected eviction notices, telling them they must move their boats before Dec. 31. Discovery Bay Marina Club is closing for extensive renovations to “meet the needs of Hong Kong’s growing sailing and pleasure-boating community,” according to a Sept. 24 club statement. A reopening date hasn’t been announced.