Mainland capital inflows into second-hand luxury homes in Hong Kong

South News reporter Shikiuku Hong Kong Zhongyuan Real Estate Research department released a report yesterday that in the second half of 2010, the number of mainland buyers continued to increase, but the proportion fell, some mainland funds to the second-hand luxury market, pushing up the proportion of mainland buyers of second-hand luxury homes in Hong Kong.　　Wong, a joint director of the Real Estate Research Department of the Central Plains of Hong Kong, said that in the second half of 2010, Hong Kong local buyers emerged in the Hong Kong luxury market, which was worth more than HK $12 million, and it also pushed down the proportion of mainland buyers, which in fact continued to increase. At the same time, some mainland funds have been diverted to the second-hand property market in Hong Kong, which correspondingly pushes up the share of mainland buyers in the second-hand luxury market in Hong Kong. In the second half of 2010, Hong Kong's first-hand luxury market, known as individual buyers in the mainland accounted for 33.8% of the number of transactions, accounting for 35.5% of the transaction, a slight decline in the early half. In the second-hand luxury market, the number of individual buyers in the mainland is 20.7% of the transaction, representing 22.3% of the transaction amount, representing an increase of 4% and 3.4% respectively in the first half.　　In the second half of 2010, a total of 26.9% per cent of Hong Kong's market transactions were known for individual buyers in the first hand and second-hand luxury homes, representing an increase of 3.7% and 4.2% in the trading volume, compared with 28.8% respectively. Wong pointed out that the fall in the proportion of mainland buyers in the first-hand luxury market did not mean that mainland buyers withdrew from the luxury market, while the number of mainland personal buyers in the second half of the year rose by 78%, a record high, indicating continued inflows of mainland funds into the market. At the same time, it is believed that some mainland funds have been diverted from the primary luxury market to the second-hand luxury market.