Hong Kong’s Property Market Sees Limited Impact From China Security Law
- Weekend sales wobbled in May but have recovered since
- City has enough local demand, limited supply to support market
Pedestrians walk past a residential development in Hong Kong.
Photographer: Roy Liu/BloombergThis article is for subscribers only.
Early signs of any impact on the property market from Hong Kong’s new security law have been muted with sales and home-price data barely flinching.
The law, which came into effect June 30, allows authorities investigating national security matters to freeze assets and seize property. That’s sparked concern that Hong Kong, long one of Asia’s premier financial cities, will become a less desirable place to live and work. Australia’s government earlier this month advised its citizens against traveling there.