A wave of mainland Chinese firms have started hunting for old buildings in Hong Kong’s urban areas, in a bid to acquire cheap land for redevelopment in the world’s most expensive property market.
As of October 4, there were 25 applications submitted by developers for compulsory en-bloc sale, according to data from the Lands Tribunal.
The figure is 60 per cent more than the 11 cases in 2016, and 47 per cent higher than 17 cases filed in 2015.
“The surge is partly driven by the…
Source : South China Morning Post
Read more…Mainland Chinese developers eye Hong Kong’s ageing residential blocks for redevelopment
