An HSBC survey finds that two of five wealthy Hongkongers (those with investable assets of over HK$1 million) own property overseas.
In fact, compared to other Asian cities, Hong Kong residents are the most keen to invest in property elsewhere.
The survey showed that, 55 percent of rich Indonesians own property elsewhere, 45 percent in China, 37 percent in Malaysia and 35 percent in Singapore.
The affluent in India and Taiwan however, owned little property in foreign countries.
HSBC spokesperson explains the survey’s results claiming the wealthy Hong Kong has overseas property as part of their lifestyle now, either for their children’s overseas education needs, as holiday homes, or as retirement alternatives.
Life is sweet when you have money in excess!
Source: The Standard
Photo: Steve Carney, Flickr
