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RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Realtors selling overseas properties probed by Hong Kong regulator

Individuals who lost money on at least 15 uncompleted UK developments have complained.

According to Bloomberg, Hong Kong’s securities regulator is investigating whether realtors selling overseas properties are illegally marketing investment plans, according to a lawmaker helping investors who lost money on such deals.

Buyers argued that developments promoting guaranteed rental income are so-called collective investment schemes, which need approval from the Securities and Futures Commission, said James To Kun-sun, a member of the city’s legislature.

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