Hong Kong is tipped to see more luxury home sales with expatriates increasingly choosing the city as their retirement base, drawn to its low-tax environment as well as business opportunities, according to analysts.
“A huge influx of expats who used to live in Hong Kong are moving back with a long-term view to retirement,” said Victoria Allan, founder and CEO of Habitat Property.
“Many expats who previously would have left to retire are staying and purchasing [property] for the first time.”
Notable high-end property deals recently involved non-local top executives and business founders, among others.
A growing number of ultra-wealthy expatriates are choosing to remain in Hong Kong beyond their working years … rather than relocate elsewhere
About 30 per cent of Habitat’s recent sales were contributed by expat clients, Allan said.