Chinese Ramp up Commercial Property Investments in HK
Mainland Chinese investors are scouring Hong Kong's commercial property market for bargains after prices plunged 30%, signalling a new wave of demand following anti-government protests last year that kept a lid on investment activity. Property agents expect the influx of Chinese capital, which has helped Hong Kong become one of the world's most expensive property markets, can once again prop up the sector as China recovers from the COVID-19 pandemic and stands ready to deploy liquidity. The pick-up in demand coincides with the imposition of a national security law in Hong Kong on June 30, which authorities in Beijing and the financial centre have said is necessary to ensure its stability and prosperity. The move by Chinese investors is in stark contrast to foreign investors, who are staying away due to growing concerns over the city's future. Critics of the legislation say it has pushed the former British colony onto a more authoritarian path following months of sometimes violent democracy protests last year.
Tags : INTERNATIONAL