Chinese investors snap up HK property as new security law deters foreigners

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HONG KONG — Mainland Chinese investors are scouring Hong Kong’s commercial property market for bargains after prices plunged 30%, signaling a new wave of demand following anti-government protests last year that kept a lid on investment activity.

Property agents expect the influx of Chinese capital, which has helped Hong Kong become one of the world’s most expensive property markets, can once again prop up the sector as China recovers from the COVID-19 pandemic and stands ready to deploy liquidity.

In August alone, mainland buyers snapped up at least two office towers and one hotel building worth HK$4 billion ($516 million) in total, according to agents and filings.

“A majo…

Keep on reading: Chinese investors snap up HK property as new security law deters foreigners

The Philippine Daily Inquirer, popularly known as the Inquirer, is an English-language newspaper in the Philippines. Founded in 1985, it is often regarded as the Philippines' newspaper of record.

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