The dramatic swoon in the value of the yuan in recent weeks has fuelled a treasure hunt among Hong Kong buyers for properties in the “Greater Bay Area”, as the city’s US-dollar linked currency translates into a sizeable discount for cash buyers.
The offshore yuan, which is traded by international investors outside mainland China, has tumbled by more than 6 per cent against the US dollar since mid-June. The currency was recently quoted at 6.84, its lowest level since June 2017…
Source : South China Morning Post
Read more…The tumbling yuan is stirring up a property treasure hunt in the Greater Bay Area for Hong Kong buyers
