Mainland Chinese buyers had been setting one price record after another as they snapped up Hong Kong’s commercial land and residential property for the past year.
But as the city’s government prepared to sell what could become the costliest land parcel in the city — the first grade A commercial land site in downtown Central to go on the market in two decades — mainland Chinese developers were nowhere to be seen, snared by a tightened remittance process that made it more difficult…
Source : South China Morning Post
Read more…Mainland developers stay away from Hong Kong’s costliest land sale, as remittance rules bite















