Chinese developers' bet on HK looks misguided
Hong Kong
PRICES may be plunging but there are some who reckon real estate in Hong Kong is still a buy. Chinese developers, for instance.
On a pure macroeconomic level, it doesn't make a lot of sense, especially since the forecast in China is for rising real estate prices and further declines in the city.
But demand is being driven by more than the direction of home prices alone.
One attraction is access to an appreciating currency as the yuan weakens. As CLSA analyst Nicole …
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