Hong Kong citizens have snapped up about 200 apartments in the past two months a...
KUALA LUMPUR/HONG KONG - Hong Kong citizens have snapped up about 200 apartments in the past two months at a sprawling housing development in Malaysia, two estate agents said, a sign that some Hong Kongers are looking for homes elsewhere due to the political volatility at home.
Real estate agents expect Malaysia and Thailand to benefit the most from some Hong Kong residents’ frustration over the second bout of lengthy anti-government demonstrations in five years in the former British colony, which returned to Chinese rule in 1997. Bruce Lee, a consultant for VPC Asia Pacific and an agent for Forest City, said the purchases were being made by Hong Kong citizens who wanted to live in Malaysia, not as investments.
A marketing official at Forest City declined to confirm any new purchase but said that since its launch in early 2016, up to 200 Hong Kong residents had invested in the development. The official did not want to be named.
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