Lau's hot tip: plunge into property
Andy Lau Tak-wah says now is a good time to buy property, but only if you can afford it. 'I think if people have extra cash, they could consider buying new properties, but just watch out for the terms of the loan and don't buy a new property on an impulse,' Lau says.
The singer is a savvy property investor and he has experts who monitor the local property market for him. He says most of his properties were bought some 10 years ago at a low, so even if he had to sell them now he would still make a profit. 'I haven't bought any new properties in the past five years. I never buy property at high prices.'
Lau (left) may have been saved from sinking property prices but he also owns shares in HSBC Holdings, which has recently seen its stocks plunge to some HK$75 a share - almost half of its peak price.
But the singer remains optimistic. 'Those were the stocks that my father told me to buy years ago at very low prices. Besides, I don't need the money now, so I will give it a wait until the stocks go up again. But I know nothing about the stock market, so I wouldn't be buying more shares.'
