Reuters
After a pandemic-induced lull spanning more than three years, mainland Chinese are snapping up homes in Hong Kong, accounting for up to a third of new property sales weeks after the city removed all additional stamp duties on foreign buyers. The surge of mainland Chinese buyers into one of the world's most expensive housing markets - reported by several property agents and developers - comes amid battered confidence in the mainland's housing market due to a debt crisis and an uncertain economic outlook. Hong Kong in late February removed all additional stamp duties, including those for purchases of second properties, as well as duties on those selling flats within two years of buying them.