
Now cheaper: how Hong Kong changed the rules for buying real estate
Hong Kong has announced a reduction in the investment threshold for purchasing residential real estate under the New Capital Investment Entrant Scheme. The minimum cost of housing for program participants is now 30 million Hong Kong dollars (about 3.9 million US dollars) instead of the previous 50 million. The decision was announced by the head of administration John Lee in his annual speech.
The measure is aimed at supporting the local real estate market, which is going through difficult times. Despite the reduction in taxes and easing of mortgage rules, housing prices in Hong Kong remain at the lowest level since 2016, and an excess supply continues to put pressure on the sector.
The investor visa program requires applicants to invest at least 30 million Hong Kong dollars in assets, including stocks, bonds, and real estate. At the same time, no more than 10 million dollars can be counted towards residential real estate in the total volume of investments.
According to the government, by April, 1257 applications had been received for participation in the program, of which 512 were approved. They are expected to bring more than 37 billion Hong Kong dollars in investments to the economy.

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