The continued unrest in Hong Kong in the past three months caused a shift in International Property Exhibitions. These changes, however, started about 16 months earlier as local events contributed to creating demand for international property.
The country in question is not the main driver of this change, however. Change in demand is secondary to a buyer’s motivation, project accessibility for agents, country awareness, and investment benefits in relation to the buyer’s motivation.
As Hong Kong goes through a difficult time right now, a lot of factors affect the decision of potential buyers. This includes residence, immigration, and stability. The choice for buying is influenced by the agents, awareness, availability, education, and price point. This is evident in the present trend of international property exhibitions now.
Six Most Exhibited International Properties
Taking all these into consideration, here are six of the most popular investment destinations in Hong Kong from May 2018 to August 2019. While Singapore and the US are not included in the list, they have a notable increase in interest in the past three months.
Thailand, Australia, and the UK are consistently top performers, occupying the top three positions. Japan is laudable for its consistency in the past three months but they have limited promotions. Canada is notable for increasing its exhibition numbers this year compared to the same period last year, showing a 100% increase.
Of all, Malaysia takes the cake when it comes to exhibition numbers (including crowds and sales). They posted 42 and 51 exhibitions in the past two months. This is equivalent to 1.5 Malaysia property exhibitions in a single day and they do not seem to slow down.
As a result, Thailand’s numbers slowed down since more agents chose to switch to Malaysia. Thailand has a limited market right now. Compared with its numbers last year, Australia has fairly consistent numbers whereas UK property exhibitions showed a small decline.
Malaysia Leading in International Property Exhibitions
In the last 15 months, Malaysia became the most exhibited country of destination. Thailand retains the second spot, with Australia and the UK taking the third and fourth, respectively.
Analysing the numbers before and after June – the time Hong Kong protests escalated – Malaysia property exhibitions doubled in market share as other markets dwindled in number.
Will Malaysia’s property exhibition numbers further increase come September? Possibly.
Japan, as always, will remain consistent and so will Australia. Other countries like Canada will see a small downturn. The UK numbers should show an uptick as more projections of new launches are underway. Thailand’s performance will highly depend on Malaysia since agents often crossover when marketing properties.
All in all, demand will remain robust for international property in Hong Kong.