Mainland Chinese Stop Buying HK Property

Posted by Ed 3 mths ago
Mainland Chinese Stop Buying Hong Kong Residential Properties, Try to Unload What They Have
Mainland Chinese buyers, who largely drove the luxury real estate boom in Hong Kong, the world’s most expensive housing market in terms of affordability, have stopped buying.
The number of homes eligible for buyer’s stamp duty, which is only paid by overseas or company buyers, mostly from the Mainland, plunged to an unprecedented low of just 42 homes in March, from a record monthly high of 534 in December 2017, according to the city’s Inland Revenue Department: 
In addition, many Mainland investors are desperately trying to sell those residential properties they have already bought as rental income in Hong Kong slumps and appetite for outbound investment all but vanishes in China.
Many of these investors are willing to sell at a sharp discount to offload their property as quickly as possible. 
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