Pitching for foreign projects

As the property market enters a wintry mood in Hong Kong, real estate agents are increasingly turning their attention to foreign sales. The new generation of professional classes in the region is even more cosmopolitan that the last, and their eyes are on property in parts of the world perceived to have a relatively high quality of life, most of them variously eyeing property investments, second homes, homes for children studying at overseas universities, and retirement domiciles.

'In terms of the residential sector, sales of foreign units to Asian buyers have increased tremendously over the past two years, favourite destinations being London and Sydney,' says David Watt, international director and head of business developments and client services for Asia Pacific at DTZ. 'The main buying groups have been high-net-worths from Hong Kong, Singapore, Malaysia and, more recently, mainland China,' he adds.

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