, Columnist
Hong Kong's Property Insiders Are in Buy Mode
Deadly Virus? Destabilizing protests? Overvalued homes? Don’t worry, it may still be time to invest — if you own a developer.
Demand for homes has remained resilient.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
A deadly virus outbreak following months of anti-government protests might seem like a toxic cocktail for the world’s least affordable property market. Yet Hong Kong’s real estate insiders are in buy mode.
The plan by the family of Peter Woo to take Wheelock & Co. private suggests that those with the most privileged vantage point see a limit to any virus-induced decline in property prices, and consider there’s value to be extracted by removing assets from the public markets. It may not be the last such maneuver.