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London’s property market is rescued by its former colony, Hong Kong

London’s property market is rescued by its former colony, Hong Kong

IF ANYWHERE is more obsessed with property than Britain, it is Hong Kong. In the storeyed former colony, handed over to China 20 years ago, real estate fills the conversation just as it fills the skyline.

Nor is this interest confined to Hong Kong’s own tightly packed buildings. On a recent weekend, an international property fair organised by REA Group, an online estate agent, drew over 2,500 participants. They were treated to an eclectic menu of options, from luxury flats in Dubai and agarwood plantations in Thailand to care homes in Yeovil. Advisers, analysts and feng shui gurus vied for attention. Those who came to a talk by Eddie Kwan, a migration consultant, had the chance to win a bottle of Perrier-Jouët champagne. A talk on mainland property offered the opportunity to win a motorised massage mat.

The property market in Britain is benefiting from this spirit of adventurous opportunism, at a time when it needs all the help it can get. House prices in London fell in the third quarter, year on year, for…Continue reading

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