Hong Konger Winnie Tong aims to move to Britain with her family in two years, but is stalling on plans to buy a house there after prices jumped almost 15% since April.
FILE PHOTO: A person on a bicycle rides past houses on a street early in the morning in Islington, London, Britain, June 22, 2020. REUTERS/Simon Newman
Property agents said they sold more than double the number of apartments to Hong Kong buyers in the past two months, with the spike in purchases mainly for personal use. “We have never received so many calls from existing clients,” said Marc von Grundherr, director of London estate agent Benham and Reeves, which lets UK properties for about 1,000 clients in Hong Kong.since 2014 and a stamp duty holiday in Britain for homes priced below 500,000 pounds , have also encouraged Hong Kong buyers to invest in the UK.
“Because of the situation in Hong Kong, those who didn’t know the UK very well are now also looking...and they don’t want to commit too much yet because their economic power is not as strong,” said David Hui, Centaline Property sales director. Some of his clients are well-known and ultra high net worth families who are “ready to pounce if need be” to relocate the whole family, he added.
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