Expatriate retirees drive demand for luxury housing in Hong Kong

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Expatriate retirees increasingly opted to purchase luxury homes in Hong Kong, marking a shift from previous trends where expats typically relocated elsewhere after their careers ended. According to Victoria Allan, founder and CEO of Habitat Property, approximately 30 per cent of recent sales at her firm were attributed to these expatriate clients. Analysts including William Lau of Knight Frank noted that this demographic was drawn to the city by its low-tax environment and business opportunities, leading them to choose the region as a long-term base for retirement.

Consequences

The continued influx of ultra-wealthy expatriates seeking to purchase property is expected to drive higher demand for luxury housing in the Hong Kong market. This shift suggests that the city will likely retain a significant portion of its affluent foreign population beyond their primary working years.

Sources

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