NEW ASIAN DEMAND
The leasing market for Hong Kong's luxury homes is being supported by rich central Asians, just as demand from expatriates has been hit by cost-cutting measures, according to a report by Savills. Demand from investors in the energy and commodity sectors from Russia and Mongolia, plus big international retailers, is on the rise. Savills says these tenants typically look for a large floor area, with a good view in a good location. Discovery Bay and Tung Chung are becoming popular.