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Many expats—a majority of whom are wealthy individuals from major financial hubs—have relocated to Hong Kong, often being supported by their employers. This influx of successful individuals further amplifies the already soaring demand for limited housing, fueling the real estate frenzy.

Foreign Demand and Political Turmoil

At the root of this phenomenon lies China. The economic reforms of the 1980s generated immense wealth for many within mainland China, consequently leading to an influx of Chinese elites seeking refuge from potential capriciousness in their home country. Hong Kong, with its established rule of law and free-market principles, became a prime destination for these high-net-worth individuals.