Wednesday , January 22 2020

HK residents eye homes overseas amid protests

Bloomberg

Residents of Hong Kong are hunting for homes all over the world as tense anti-government protests look set to drag into the new year.
Real estate brokers from Australia to Canada have seen a surge in interest over the past few weeks, with the desire to secure a safer future prompting many to look beyond the Asian financial hub.
“There’s been an increase in capital outflows from Hong Kong-based investors into other major global real estate markets, with Australia, Singapore, Japan and the US all seeing an increase in purchasing activity,” said Ben Burston, Knight Frank LLP’s Australia-based chief economist.
Pro-democracy protests that erupted in June have crippled the city’s economy and caused huge inconvenience to people’s daily lives. The police have fired more than 16,000 rounds of tear gas over past six months while black-clad protesters have vandalised transport facilities and pro-China shops.
Demonstrators swamped the central business district opposing the arrest of four people connected to a group that helps the protest movement.

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