Mainland Chinese, once the driving force behind Hong Kong’s stratospheric home prices, are now shunning the city after months of protests.
Inquiries for Hong Kong properties from mainland Chinese plunged through the second half of last year, according to Royal Institution of Chartered Surveyors data that tracks the percentage of agents reporting a drop in interest versus those reporting an increase.
Chinese interest in Hong Kong properties has plunged amid the protests
“Whereas a year ago they were enthusiastic, mainland buyers today are cautious or downright skeptical,” said Georg Chmiel, executive chairman of Juwai IQI, an online platform that specializes in Chinese buyers looking for international properties.
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