Hong Kongers scout properties in Canada and UK to escape protests HongKongProtests HongKong
TORONTO - As protests continue to rock Hong Kong, real estate brokers in Canada and the UK are fielding a flood of inquiries from investors in the former British colony who are eager to get out.
"It has completely flipped now," said Mr Scarrow."Whether or not that actually translates into deals, that comes down to what continues to happen in Hong Kong." A look at few of the markets that are of interest to the Hong Kong buyers: Vancouver's Advantage Vancouver, where housing prices have been in a slump for the past year, may be the first city to benefit from the upheaval in Hong Kong.
"The tsunami tide of capital coming from overseas in the last 10 years displaced a lot of old Hong Kong money," CBRE's Mr Ho said."Now, Hong Kong capital is looking at the price correction in Vancouver as an opportunity to get back in the market." "People are looking at the future, especially people who are young professionals in their late 20s or 30s," Mr Robert Veerman, a CBRE sales representative who works with Mr Ho, said."They still have 50 or so years of professional life ahead of them essentially and the question is, where are the market, jobs, growth going to happen?"
"We have suddenly had a lot interest from our clients in Hong Kong," Mr Joe Bond, an FX Counsellor at Citigroup, said at a luxury property event hosted by Harrods Estates, Taylor Wimpey and Citigold Wealth Management in London earlier this month, noting that the recent instability encouraged potential buyers to make offers.
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