Chinese investment to push up hong kong house prices?
Chinese investment could push up house prices in Hong Kong, according to agents.
Outward investment from China has risen to $800 billion in the past year, with investments in real estate markets across the world expected to climb. Indeed, Australia and Canada have both voiced concerns surrounding the impact of Chinese buyers on their markets, while China has also become the biggest real estate spender in the US.
37 per cent of new sales of luxury Hong Kong homes worth over HK$50million are now going to mainlance Chinese investors, according to Midland Realty.
With up to 10,000 new units are set to go on sale in the second half of 2015, agency Centaline forecasts that sales will reach more than $HK200 billion this year, with prices expected to rise by up to 10 per cent.