Hong Kong investors are starting to look elsewhere to protect their wealth. In particular, they are now looking towards the direction of Australia and even New Zealand to find luxury real estate properties to invest in. This interest is fuelled by the current political instability in the Chinese-ruled city, according to a report from Reuters citing real estate data and input by property agents.
The Alluring View Below
The same report noted that real estate agents suspect that these potential property investors from Hong Kong are making an exit strategy. The agents also believe that these investors are highly likely to be the ones allowed to reside in Australia or New Zealand. Their assumptions support the fact that residency is not granted to people who purchase real estate property in the aforesaid countries.
Eyes Set on the Visa
Recession in what used to be Asia’s financial hub is one of the other factors that explain the increased interest in luxury real estate properties in the two countries earlier mentioned.
The wealthy Hongkongers appear to be interested in Australia’s millionaires-only visa programme, which requires an investment of not less than AUD 5 million.
New Zealand’s offer also appears to be attractive for these Asian investors. By investing at least NZD 3 million, they can obtain an investor visa and settle in this safe harbour that is far enough for protection but near enough for convenience.
Settle in the Land of the Long White Cloud or Down Under
Hongkongers may be forced by circumstance to look for prestige properties for sale Australia and New Zealand. Then again, even those who do not have to leave amid political turmoil will be understandably attracted to invest in countries with thriving economies and stable governments. After all, wherever we may be from, peace and progress retain their universal appeal.
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