As the vaccine programme continues to help contain the Covid-19 pandemic in Hong Kong, home prices have rebounded substantially in recent months. A flood of cheap money unleashed by global central banks has found its way into fixed assets including residential properties.
Hongkongers have emerged as among the most aggressive buyers of UK property, snapping up more than £305.6 million (US$430 million) of prime London homes in 2020. This trend is expected to continue under a new wave of emigration, as BN(O) passport holders are allowed to live in the UK under the new visa scheme.
A strong start to homebuying activity portends well for the housing and mortgage markets, suggesting it is likely hold up well for the rest of the year. With activity picking up, lenders are looking to approve more mortgage loans, slashing interest rates and offering cash rebates to gain market share.