Hong Kong’s sky-high property prices showing off resilience amid protests



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Hong Kong’s sky-high property prices showing off resilience amid protests

In the face of an unfathomable stress brewed off Hong Kong’s multi-month protest over a China extradition bill, thousands of tourists had left the city casting a dark cloud over its domestic economy, while financial markets had been vying to vent out a way to grapple with a slew of exacerbating jitters, nonetheless, there had been a bright spot on which the city residents were still banking on, Hong Kong’s sky-high property prices.

If truth is to be told, following an unshackling of the Asia’s one of the largest financial hub, Hong Kong, back in 1997 from a former British colonial rule, the city’s home prices had space-dived more than 200 per cent, boosted up by limited supply amid a large capital flow from the buyers of mainland China, while many city residents were forced to leave the city over the past decade being botched to afford an uplift on to the property ladder.

More surprisingly, despite the city’s worst protest since its return to Chinese rule under terms widely dubbed as, “one country, two systems,” property prices of the biggest financial HubSpot of Asia had barely changed, while Hong Kong property agents had been quoted saying on Sunday (September 29th) that given the current turbulence on city streets which had almost become a daily incident over the recent weeks, property price outlook in the city was still rated “good”.