Why the Hong Kong property market could drop $20 billion… thanks to the UK

Published

4 years ago

April 27, 2021

Ahron Young

The Chinese government crackdown on dissidents in Hong Kong could cost the property market dearly.

But no one thought it would cost 20 billion dollars, until now.

13,100 to 16,300 households are expected to move to the U.K. via their British National (Overseas) visas in 2021.

A report by Bloomberg Intelligence details the shocking figure.

Hong Kong homeowners may sell as much as HK$150 billion ($19.3 billion) worth of property this year when residents emigrate to the U.K.

The number represents 0.9% to 1.1% of households living in privately owned homes.

If all of them sell their properties to fund their move and living costs, they could generate a maximum of HK$150 billion in 2021 alone, Bloomberg estimates show.

Why is it the British government’s fault? Well the UK handed power over to China back in the 90s. The deal with China has maintained democracy in Hong Kong for 50 years.

Fast forward to 2020, and many believe China’s degradation of democracy is a sign of strength. New laws that force elected members to be “patriotic” to China replace democracy.

So the UK responded by making it easier for Hong Kong residents with BN(O) status to obtain citizenship – and now that is prompting a migration and a drop in the property market.

Property listings at Centaline, Hong Kong’s largest real estate agency, surged by 44% from a year earlier to more than 40,000 homes.

Related Topics:hong kong property rental trending UK

Up Next

Spotify founder joins Arsenal legends in takeover bid

Don't Miss

Turns out we really missed the office after all

Ahron Young

Click to comment

Secret IMF meeting sparks US-China truce

Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.

Published

15 hours ago

May 14, 2025

ticker NEWS

Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.

A covert meeting in the basement of the IMF has set off a diplomatic shockwave, leading to a major breakthrough in US-China trade talks.

Top officials from both nations have now agreed to slash tariffs by 115 points for 90 days—marking the first real progress since the Trump-era trade war began.

More stories like this, subscribe now: https://www.youtube.com/@weareticker

#USChinaTruce #TariffRollback #IMFSecretMeeting #TradeWar #TickerNews #EconomicCeasefire #TrumpTariffs #GlobalMarkets #GenevaTalks

Money

Gen Z and millennials surpass boomers in voting power

Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.

Published

2 days ago

May 13, 2025

ticker NEWS

Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.

For the first time in history, Gen Z and Millennials now outnumber Baby Boomers at the ballot box in Australia, marking a seismic change in the country’s political landscape.

Experts say this electoral milestone could spark major reform debates on taxation, superannuation, and inheritance laws as younger voters prioritise different values.

Subscribe for more political analysis: https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#AustraliaPolitics #GenZ #Millennials #Boomers #TaxReform #Superannuation #Inheritance #StevenEnticott #CIA #MoneyMatters #TickerNews

Money

Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

Published

1 week ago

May 7, 2025

Ahron Young

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.