Hong Kong buyers Favor Investment Properties, found Property Agency
Nov 17st, 2015
Hong Kong property investors picked Pearl Delta Region China, Tokyo and Singapore as top three most favorable places to buy properties overseas in the third quarter this year, Centaline Property Agency's latest quarterly survey result shows.
From August to October, Centaline Property randomly surveyed 350 residences in Hong Kong through phone calls, internet polls and face-to-face questionnaire fill-ups to project Hong Kong buyers' investment interests updates.
Some 76 percent of the survey participants selected purchases for investment as their most anticipated purpose to buy property overseas while 24 percent picked for personal private use. Geographically, properties in China's Pearl Delta Region ranked the top with 27 percent of total participants preferences, second was Tokyo 26 percent, Singapore became the number three with 24 percent most preferential votes in terms of property invesment location, followed by Sydney and Melbourne. Taipei, Malaysia, Vancouver, Manchester, Bangkok, New York, Toronto were the cities following the top five.
Around 60 percent of the people participated in the survey with annual household income over HKD 1 million, 24 percent with income in between HKD 1 million to 2.5million, and 15 percent with income over HKD2.5 million. Some 73 percent of the participates live in property developed by private property developers while the others live in government developed houses.
On considering buying overseas properties, Hong Kong investors who participated in the survey attributed cost, currency effect and growth potential as the top three factors that influenced their decision to select properties. The property agency also noted the traditional hot pick of Thailand properties was witnessed a declining trend on the list.