London Daily

Focus on the big picture.
Friday, Jun 20, 2025

HK residents moving to UK may sell $25.6b of homes in 2021

HK residents moving to UK may sell $25.6b of homes in 2021

Hong Kong home owners may sell as much as HK$150 billion (S$25.6 billion) worth of property this year when residents immigrate to Britain.
The city is expected to see about 13,100 to 16,300 households move to Britain via their British National (Overseas) visas this year, Bloomberg Intelligence said in a report yesterday.

The number represents 0.9 per cent to 1.1 per cent 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 this year alone, Bloomberg estimates show.

The British government's plan to make it easier for Hong Kong residents with BN(O) status to obtain citizenship is prompting a migration and rise in home offers.

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

That's not to say Hong Kong's property market will fall into an abyss any time soon. Buyers are absorbing the increased supply in the market.

As an indicator of robust market activities, used-home sale value this month is on track to hit a 23-year high at HK$50 billion, according to Centaline.

Meanwhile, prices remain resilient with current values just 5.4 per cent lower than the historical peak set in mid-2019.

Mortgage rates also dropped to the lowest in more than a decade, boosting appetite from home buyers.

Wealthy Hong Kong buyers are looking to snap up homes in Britain. They quadrupled their proportion of home purchases in London's most expensive areas last year, according to agency Hamptons International, accounting for 8 per cent of luxury homes bought that year.

More than 35,000 eligible Hong Kongers have applied for the BN(O) programme, The Times reported earlier this month.

Those Hong Kong residents who are seeking to invest in Britain may face fierce competition.

Lifestyle changes during the pandemic and a tax break on home purchases have pushed Britain's property market to new heights this year, with the proportion of homes available to buy at its lowest, according to property website Rightmove.
Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×