Mainland buyers rush to snap up Hong Kong luxury
What may come to no surprise to some is that mainland buyers are increasingly snapping up Hong Kong luxury properties recently.
1 in 5 luxury properties in the island city (a property sold at higher than 10 Million Hong Kong Dollars is considered luxury) comes from the mainland now.
The more accurate figure is 18.1 % according to Centaline Property Agency or Zhong Yuan.
Since the downturn in 2008 more and more Mainlanders rush to the island to buy bargains deemed good investment.
Shanghai itself has slowed down a bit and transaction volume is siginifcantly lower.
It’ll be interesting to see what comes after the holidays.
Happy chinese new year everyone, may the year of the tiger bring health and success to all of you.
Stay Tuned