H
ong Kong's housing market is experiencing a shift as renters are increasingly becoming buyers, particularly among new arrivals under the city's talent schemes. This trend could help alleviate the real estate slump. Attractive rental returns, lower interest rates, and the removal of duties for non-resident buyers from mainland China are also drawing more Chinese investors into the Hong Kong market.

    Monica Li, a 36-year-old mother from Beijing, is searching for a two-bedroom flat in Kai Tak or Wong Chuk Hang within her budget of HK$20 million. She believes buying property in Hong Kong has become more appealing after stamp duties were waived in February, making it easier for mainland investors to purchase.

    Li's decision to buy is driven by the desire to have her children study in Hong Kong, a common reason among many mainland families. "Properties are cheap now, and interest rates are low," she said. "It's a good time to invest in suitable projects." Many mainland buyers are taking advantage of this opportunity, with Norry Lee from JLL Hong Kong noting that the number of mainland buyers has significantly increased since March, particularly for projects like Cullinan Sky and Blue Coast targeting these buyers.