Property stocks have bounced back.
Don’t bet against Hong Kong’s billionaire property tycoons, even if the city’s incoming chief executive takes a tough stance on reining in soaring home prices. This is in a report by Bloomberg.
After a short-lived dip as the city’s government ratcheted up real estate curbs in November, property stocks have bounced back and so has the wealth of billionaires including Li Ka-shing and Lee Shau Kee.
More than seven years into Hong Kong’s campaign to tame runaway home prices, real estate moguls account for nine of the 10 wealthiest people in the city, according to the Bloomberg Billionaires Index.
View the full report here.
Do you know more about this story? Contact us anonymously through this link.