HONG KONG – More than 40 per cent of Hong Kong residents are now interested in buying property overseas, according to new research by GoHome.com.hk, a member of REA Group.

Among other markets, Hong Kongers are looking for new condos for sale in Singapore.

As real estate prices continue to soar in Hong Kong, home ownership has become a pipe-dream for many, with many people being priced out of the market.

The survey of 2,993 people indicates that 90 per cent of Hong Kong residents think the Government has failed to introduce effective measures to curb property prices.

The research also reveals that more than 40 per cent of those surveyed anticipate Hong Kong’s property prices will continue to rise.

Additionally, young people are increasingly discouraged by buying their own home in Hong Kong.

The research also showed that more than one-third (36%) of people are now raising their budgets and are prepared to spend between HKD$5 million and $10 million. Interest in buying first-hand property has also increased, with more than one-third (33%) of people considering a first-hand purchase that is either completed or uncompleted as a way of entering the domestic market.

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