Hong Kong Property Market Proves Resilient as Crises Mount

Buyers see real estate as a safe investment in chaotic time
New condo units starting at $872,000 sell out in eight hours

Prospective buyers wearing protective masks wait in line outside the sales office for the Campton residential project in Hong Kong on June 2.Photographer: Roy Liu/Bloomberg

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By Shawna Kwan

June 6, 2020 at 9:00 PM UTC

Updated on

June 8, 2020 at 6:50 AM UTC

This article is for subscribers only.

A controversial security law that threatens to upend Hong Kong’s status as an Asian financial hub hasn’t slowed the world’s most expensive real estate market.

Dozens of would-be buyers lined up in the rain last week for a chance to bid on 94 apartments in The Campton project in central Kowloon, with prices starting at HK$6.8 million ($872,400) for a one-bedroom condo. All but one of the units were snapped up in eight hours, bringing in HK$880 million for the developer, China Vanke Co.