HONG KONG - A controversial security law that threatens to upend Hong Kong's status as an Asian financial hub has not slowed the world's most expensive real estate market.
The legislation is triggering concerns about capital outflow, sparking renewed pro-democracy protests and increasing tensions in a city trying to recover from the pandemic. The economy is expected to see a record 7 per cent contraction this year. "Hong Kong is a very small place," she said outside the Vanke project sales centre."If you look at home prices 20 years ago and now, properties bought then are all making huge profits."
"Prices have proved remarkably resilient, especially if you consider that the Hong Kong market has become a byword for unaffordability," said Mr Simon Smith, head of research and consultancy at Savills Plc. Mr Smith cites persistently low real interest rates and the city's relatively successful handling of the pandemic to explain the market's resilience.
They like small and cramp apartment.