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Billionaires buying first homes skirt Hong Kong's new curbs

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Published Tue, Dec 13, 2016 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Hong Kong

    HERE'S how billionaire Edwin Leong, one of Hong Kong's largest retail landlords, got around Hong Kong's new property curbs and saved almost US$17 million on his tax bill.

    He managed to qualify as a first- time homebuyer, purchasing three luxury apartments on the Peak for HK$1.2 billion (S$221 million) on the same day last month.

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