Chinese Buyers Returning to Hong Kong Housing, Wheelock Says

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  • Mass-market sales to mainlanders have doubled from year ago
  • Discounts cut to 17% from 20% at Kowloon apartment project

Trams travel past residential buildings in the Sheung Wan district. Chinese buyers are seeking homes as investments and for their own use, undeterred by a 15 percent extra tax Hong Kong imposes on non-residents.

Photographer: SeongJoon Cho/Bloomberg

Renewed demand from Chinese buyers looking for offshore assets is helping drive sales at Wheelock Properties (Hong Kong) Ltd.’s Hong Kong housing projects, Managing Director Ricky Wong said.

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