{"id":29069,"date":"2022-05-26T16:13:59","date_gmt":"2022-05-26T09:13:59","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=29069"},"modified":"2022-05-27T16:18:42","modified_gmt":"2022-05-27T09:18:42","slug":"hong-kong-citizens-find-homes-in-australia-canada-the-uk","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hong-kong-citizens-find-homes-in-australia-canada-the-uk\/","title":{"rendered":"Hong Kong citizens find homes in Australia, Canada &#038; the UK"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Moreover, Singapore-based schools have received more inquiries from Hong Kong residents than usual<\/span><\/p>\n<figure id=\"attachment_29070\" aria-describedby=\"caption-attachment-29070\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-29070\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/05\/shutterstock_140493199.jpg\" alt=\"\" width=\"1000\" height=\"780\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/05\/shutterstock_140493199.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/05\/shutterstock_140493199-400x312.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/05\/shutterstock_140493199-600x468.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/05\/shutterstock_140493199-768x599.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-29070\" class=\"wp-caption-text\">The exodus has been planned for several years. aslysun\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/www.knightfrank.com\/research\/article\/2022-03-29-the-wealth-report-2022-asia-pacifics-performance-qas-with-christine-li\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Knight Frank<\/span><\/a><span style=\"font-weight: 400;\">, Hong Kong is still one of the world\u2019s premier residential markets. This may be true for global investors because its citizens are buying homes somewhere else.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The overall residential market remained quiet in March, but purchasing momentum in the secondary market steadily increased as a result of the reduction of mortgage rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The local pandemic outbreak caused the monthly drop towards the end of March. According to the <\/span><a href=\"https:\/\/www.landreg.gov.hk\/en\/monthly\/monthly.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Land Registry<\/span><\/a><span style=\"font-weight: 400;\">, 2,869 residential sales were reported in March, a 1.5 percent decrease MoM. Secondary sales prevailed, accounting for 94.4 percent of total transaction volume and 2,708 cases reported, representing an 11.4 percent rise MoM.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Its long-term economic outlook is bolstered by its proximity to the Chinese mainland and a well-developed banking sector.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the scarcity of land, demand will always surpass supply.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For many investors, the city ticks all the boxes. Furthermore, Hong Kong SAR is entering its third decade of low interest rates, and monetary policy continues to support liquidity and low debt in the market, sustaining advantageous conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The exodus has been planned for several years. Ultimately, when Hong Kong joined China&#8217;s stringent zero-COVID policy earlier this year \u2014 where 7.5 million citizens were subjected to mass testings, curfews, and lockdowns during the fifth wave of the COVID-19 pandemic \u2014 many citizens opted to move and purchase homes in other countries<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Many Hong Kongers hold dual citizenship in the UK, Canada, and Australia. This could be why they are seeking to purchase homes there instead,&#8221; Christine Li, head of research for Knight Frank Asia-Pacific, told <\/span><a href=\"https:\/\/www.businessinsider.com\/hong-kongers-purchasing-homes-uk-canada-and-australia-exodus-relocating-2022-5#hong-kongers-with-dual-citizenship-are-choosing-to-purchase-homes-in-the-uk-canada-and-australia-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Insider<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, Singapore-based schools such as Tanglin Trust School and EtonHouse International School have received more inquiries from Hong Kong residents than usual, as reported by <\/span><a href=\"https:\/\/www.thestandard.com.hk\/breaking-news\/section\/4\/187765\/Hong-Kong-residents-escape-to-Singapore-as-Covid-lockdown-looms\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Standard<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><strong><a href=\"https:\/\/www.asiapropertyawards.com\/en\/singapore-schools-a-top-choice-for-hong-kong-expats\/\" target=\"_blank\" rel=\"noopener\">More: Singapore schools, a top choice for Hong Kong expats<\/a><br \/>\n<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Until recently, everyone arriving in Hong Kong had to undergo \u2013 and pay for \u2013 a three-week quarantine.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">The Property Report editors wrote this article. For more information, email: <a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\">propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moreover, Singapore-based schools have received more inquiries from Hong Kong residents than usual<\/p>\n","protected":false},"author":12,"featured_media":29070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[464,650,638],"class_list":["post-29069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economy","tag-housing-market","tag-real-estate","news_country-hk-macau","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hong Kong citizens find homes in Australia, Canada &amp; 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