HONG KONG/LONDON: Hong Konger Winnie Tong aims to move to Britain with her family in two years, but is stalling on plans to buy a house there ...
HONG KONG/LONDON: Hong Konger Winnie Tong aims to move to Britain with her family in two years, but is stalling on plans to buy a house there after prices jumped almost 15 per cent since April.
"The good quality houses are all sold out and prices are more expensive," Tong told Reuters."Too many Hong Kong people are snatching up in the UK now." Property agent Arlington Residential in London said it completed more than 10 deals in the past two months, a figure it would normally achieve in a year. Centaline in Hong Kong said it sold around 60 apartments in July alone, adding that they had a waiting list of clients due to a shortage of supply.
Hong Kong buyers have climbed a notch to become the fifth-largest foreign investors in central London in the past 12 months, Knight Frank data showed, after China, the United States, India and Russia. They accounted for 4 per cent of purchases, up from 2.5 per cent in 2016.
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