After Beijing’s strong promotion of the “Hong Kong National Security Law” in Hong Kong, the wave of Hong Kong people emigrating has continued unabated. According to a Bloomberg Intelligence report, in 2021, there will be about 13,100 to 16,300 families in Hong Kong who will move to the UK on BNO (British National Overseas Passport) visas.
This figure represents 0.9% to 1.1% of households living in private homes. If we take 4 people per household, that means an estimated 52,400 to 65,200 Hong Kong people will move to the UK. And when Hong Kong people move to the UK, they may sell up to HK$150 billion (US$19.3 billion) worth of real estate.
The British government’s plan to make it easier for Hong Kong residents with BNO status to obtain citizenship has prompted a rise in the number of Hong Kong immigrants and the number of properties sold. The number of properties put up for sale by Centaline Property, Hong Kong’s largest real estate agency, jumped 44 percent from a year earlier, with more than 40,000 units put up for sale.
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