Over the past year, it seems that Hong Kong has faced numerous challenges, including political issues and the trade war between China and the United States, leading to the first economic recession in many years. This is compounded by the COVID-19 situation, which has further heightened tensions in Hong Kong.

However, the most significant issue affecting the lives of Hong Kong residents is undoubtedly the new national security law that is set to take effect, raising concerns among many Hongkongers that this law will impact the rights and freedoms they have enjoyed for over 20 years since the UK handed Hong Kong back to mainland China.

Particularly, the freedom to use the internet without restrictions, unlike in mainland China, allows access to websites worldwide. This has led to a significant increase in the demand for VPNs among Hong Kong residents. Even though Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region, insists that the national security law will only affect a small number of people and that the majority of Hongkongers will retain their freedoms in other areas, many do not seem to believe her.

Statistics from the Hong Kong Census and Statistics Department reveal that last year, 29,200 Hongkongers moved abroad, marking the highest number since 2012.

The Strong Trend of Migration: Investing in Real Estate and Moving to England

With the increasing desire among Hongkongers to migrate, many companies have started advertising migration services, including investment opportunities in other countries, on various social media platforms such as Facebook, Instagram, and YouTube. The messages invite people to move abroad, such as “It's time to decide to invest in real estate in England,” “Join our webinar on how to apply for a green card in the United States for Hongkongers,” and “Start a new life in Australia and New Zealand.”

Hongkongers are particularly interested in England for both relocation and real estate investment after the UK announced that 3 million Hong Kong residents would be allowed to apply for citizenship and move to England.

Mohamad Nasir, an investment consultant in England, reported that the demand for real estate investment in Manchester from Hongkongers increased by over 200% in just one week. Questions from Hongkongers include inquiries about investment returns from rental properties and living conditions if they move to England within the next 6 months to a year, including preparing for their children's education and their own relocation.

In addition to companies providing real estate investment consulting for Hongkongers in England, firms from other countries are increasingly interested in Hong Kong clients, shifting their focus from primarily targeting American clients.

Some financial experts predict that this surge in Hongkongers' demand for overseas investment represents the largest migration of investment by Hongkongers since 1997, when the UK handed Hong Kong back to mainland China. Hongkongers hope to invest in markets where they feel the most secure and stable.

SOURCE – brandinside