Hong Kong: A Mad Stampede For Real Estate
With less than six months until Hong Kong reverts to Chinese control, one might expect investors to be heading for the exits. Instead, they're flocking to real estate brokers. A new apartment development went on the market in early January--and 27,000 people lined up to vie for 1,600 flats. In November, a single-family house on prestigious Victoria Peak sold for a record $70 million.
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