Hongkongers snap up property in Taiwan as self-ruled island becomes a popular relocation option
- Hong Kong residents accounted for 41.2 per cent of property acquired by foreigners in 2019, according to Savills data
- Some 27,844 Hongkongers were eligible for residency in Taiwan from 2019 to 2021, more than double the 12,220 in the previous three years
Hong Kong residents accounted for at least a third of homes bought by foreigners in 2019 and 2020, according to the latest available data.
Official data showed that 27,844 Hongkongers were approved by Taipei to gain residency from 2019 to 2021, more than double the 12,220 in the immediately preceding three years from 2016 to 2018. Those who were permitted permanent residency has also risen since 2016.
“Hong Kong residents have always considered Taiwan a popular place to relocate to because of geographical proximity and cultural similarity,” said Sing Tien Foo, professor and director of Institute of Real Estate and Urban Studies at the National University of Singapore. “Hong Kong residents may still find housing prices in Taiwan, especially in second-tier and southern Taiwanese cities, within their affordable range compared to the housing market in Hong Kong.”
