Wealthy foreign investors, particularly from mainland China, are continuing to invest in Hong Kong’s ultra-luxury housing market as part of a diversified asset-safeguard strategy, despite low rental yields of around just 2%, helping to cement the city’s place as the world’s most expensive housing market.
Centaline, a real estate agent, report that developers in Hong Kong sold a record $17bn (£13bn) of new housing in the first half of the year, with the average new home costing $1.8m (£1.4m).
The jump in property sales comes despite government measures to rein in prices and curb speculation, such as 15% stamp duty for foreign buyers, as well as heightened tensions in Hong Kong’s relationship with Beijing.
.png)
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment