Until recently, the upscale homes of the Redhill Peninsula seemed like an oasis for rich Hong Kongers aspiring to a tranquil lifestyle in an otherwise notoriously cramped metropolis of 7.5 million.
A crackdown on illegal structures in luxury homes is set to chill demand and prices in the market segment, analysts said. ‘Higher for longer’ borrowing costs are also at play, according to consultancy Knight Frank.
Until recently, the upscale homes of the Redhill Peninsula seemed like an oasis for rich Hong Kongers aspiring to a tranquil lifestyle in an otherwise notoriously cramped metropolis of 7.5 million.