Financial News
Written by: Huang Jie
2021-04-27 10:44
Last update date: 2021-04-27 10:56
Affected by politics and other atmospheres, there is another wave of immigration in Hong Kong. Many middle-class families plan to sell their properties and cash out to other places. The United Kingdom is even more popular.
Some foreign media quoted reports as saying that the value of properties sold by Hong Kong people who have moved to the UK this year may be as high as HK$150 billion!
Bloomberg Industry Research stated in a report that about 13,100 to 16,300 families in Hong Kong will relocate to the UK through the British National (Overseas) Passport (BNO) this year.
This figure represents 0.9% to 1.1% of households living in private housing.
Bloomberg estimates that if Hong Kong immigrants sold all their real estate to pay for relocation and living expenses, they would have cashed out 150 billion Hong Kong dollars this year alone.
The report also cited data from Centaline that the number of housing listings increased by 44% from the same period last year to more than 40,000 houses.
If it is simply calculated on the basis of the market value of each unit of 10 million yuan, 15,000 units are involved.
According to the "Hong Kong Property Report 2020" of the Rating and Valuation Department, the overall total stock of private housing in Hong Kong at the end of 2019 was 1,206,400 units, including independent living units with dedicated cooking facilities, bathrooms and toilets, but excluding villages Housing estates, dormitories under the jurisdiction of the People’s Liberation Army, dormitories attached to the properties of public utility institutions, dormitories for private institutions (including student dormitories of educational institutions), dormitories under the Hospital Authority, as well as hotels and hostels.
Hong Kong Immigration Immigration Investment Immigration BNO British National (Overseas) Passport