Property News · April 26, 2017

Fat cats scramble for Hong Kong property as new law exposes their wealth


Thanks to a new law, Hong Kong’s property prices are unlikely to come down.
It is called the Common Reporting Standard (CRS). Behind the benign name is a nerve-racking mechanism that threatens to expose the wealth of the fat cats.
Faced with this almost existential crisis, houses are where they seek to hide their riches.
To understand their fear, let’s start with the basics.
Imagine yourself as a senior government official or a successful entrepreneur who has accumulated a…

Source : South China Morning Post
Read more…Fat cats scramble for Hong Kong property as new law exposes their wealth

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