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SCMP Reporter

Locals beat neighbours in ownership of luxury watches, DVD players and TVs

As the economic recovery continues, one of the hot items on the Hong Kong shopping list is a second property, according to a  consumer study.

In the 12 months to June,  16.9 per cent of flat owners splashed out on an additional property,  research house Synovate found in the survey released yesterday.

This compares with  15.2 per cent for the 12 months  to March, 16 per cent for the  year to December and  15.5 per cent for the same period last year.

'Investor confidence in the property market is creeping up quarter on quarter,' Synovate media research director Steve Garton said.

'In just the last few months, our constantly updated tracking has enabled us to watch Hong Kong's increased confidence translate into higher product ownership, increasing purchase intentions and improving lifestyle,' he said.

Among 17,554 respondents to the survey across Asia were 1,710 from Hong Kong, with an average monthly income of HK$20,000 or household earnings of $40,000.

In the consumer stakes, Hong Kong  trumped cities such as Singapore, Taipei and Sydney for having the  highest ownership rate of luxury watches worth  at least US$500,  flat-screen televisions, computers, DVD players and digital video cameras.

Also, about 12.9 per cent of Hong Kong  respondents said they  took three or more leisure trips a year, compared with 7.6 per cent of Singaporeans and 5.9 per cent of  Kuala Lumpur residents.

'Hong Kong people have the capability and desire to spend,' Synovate senior project director Clare Lui said.

'They tend to adopt new gadgets and technology faster than the regional average. With a continuous recovery in the economy, we expect Hong Kong consumers to be keen on replacing or upgrading their digital items.'

Among the top 10 most desirable items, 22.2 per cent of Hong Kong consumers said they intended to purchase designer labels or quality fashion goods within the next 12 months.  Some 15 per cent planned to buy digital still cameras,  14.7 per cent aimed to purchase luxury watches,  and liquid-crystal display or plasma screen televisions  were on the shopping lists of 14.2 per cent of respondents.

In Singapore, mobile phones top the shopping wish-list, with 11.1 per cent of interviewees planning to buy one in the next 12 months, followed by cars at 9.5 per cent and computers at 8.9 per cent.

Hong Kong's consumer zeal does not extend to cars, with only 10.7 per cent of respondents saying they wanted to purchase a vehicle. Only 35.2 per cent of those questioned owned a car, compared with 92.5 per cent of Kuala Lumpur respondents.



Consumers looking to own second property