Chinese developers' land-buying spree in HK winding down

Hong Kong

THE land buying spree by mainland developers in Hong Kong is running out of steam.

In the 10 months through January, Chinese developers bought only 11 per cent of the land sold at government tenders, down from as high as 53 per cent in the fiscal year through March 31, 2016, according to an S&P Global Ratings report released on Monday. The ratings company cited tighter capital controls and greater scrutiny of overseas property buys by Chinese regulators.