Mainland Chinese spend record US$9 billion on homes in Hong Kong in first half

Quick Summary:

The amount spent by mainland buyers on homes jumped 42 per cent, while they accounted for 70 per cent more transactions year on year, according to Centaline.

The incentives are also aimed at global talent, which Hong Kong is keen to attract through programmes such as the Top Talent Pass Scheme rolled out in December 2022.

Homes valued at less than HK$30 million are now eligible for 70 per cent mortgage financing, compared with the previous cap of 60 per cent for flats valued between HK$15 million and HK$30 million.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong KongChina

Topics: Residential Mainland Homes Hong Buyers City Market Kong Mainlanders Cent Property

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 08:30:08 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 570 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21658437

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