SYDNEY - Hong Kong buying enquiries for expensive Australian and New Zealand homes have ramped up due to anti-government protests in the Chinese-ruled city, according to property agents and real estat
e data, as wealthy investors look for a safe haven.
The protests, triggered earlier this year by a proposed extradition bill that would allow individuals to be sent to mainland China to face trial in courts controlled by the Communist Party, have become more violent in recent weeks. "In the current environment, Australia appears as a safe harbor — both comfortably close and far from home," Juwai.com executive chairman Georg Chmiel said in a statement to Reuters.Several real estate agents said the buying enquiries are likely coming from wealthy foreigners who are already allowed to reside in Australia or New Zealand and who are possibly planning an exit strategy from Hong Kong.
James Chan, from Bayleys Real Estate in New Zealand, said enquiries had been ticking up ever since the protests intensified. "They are starting to think about how to protect their money - they need to look for a safe haven," he said.
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