China Housing Bubble Battle Sends Buyers to Hong Kong
This article is for subscribers only.
Lam Yuet-fung expected 1,000 people a day to visit his booth at a five-day convention in Shenzhen starting Oct. 1 to inquire about buying homes in neighboring Hong Kong. By day four, more than 10,000 had stopped by.
“The reaction has never been as good,” said Lam, who credits the interest to the Shenzhen government’s Sept. 30 announcement that it is restricting home purchases by most local residents to two units. Lam, the regional project associate director at Hong Kong-based Centaline Property Agency Ltd., said almost half of the visitors made appointments to look at properties in Hong Kong, or left contact details.