Hong Kong’s supply of luxury homes to hit new high after demand from wealthy buyers more than doubles amid Covid-19


The supply for luxury homes in Hong Kong’s ultra-exclusive neighbourhood of The Peak is likely to hit 404,000 sq ft in 2024, the highest level since 2016, after demand boosted sales of mansions and high-end flats in the district by more than double to HK$12.8 billion (US$1.6 billion) in the 12-month period ending in June, according to Colliers.“We have seen more transactions in the second half of 2020 to the first half of 2021 despite the [coronavirus] pandemic, as prices have become more…

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