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When it comes to soaring housing prices, Amsterdam and Auckland outstrip Hong Kong’s 38pc growth

Hong Kong has been named one of the least affordable housing markets in the world along with Amsterdam, Auckland and Vancouver in a study that showed housing affordability has shrunk considerably worldwide. Hong Kong saw real price growth of homes surge 37.6 per cent over the past five years up to September last year, with growth in real disposable household income edging up a mere 3 per cent in the same period, according to international property consultancy Knight Frank’s Global Affordability Monitor released on Tuesday. But that still put Hong…

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New Zealand grants developer of Auckland tower exemption under anti-foreign buyer law

Foreigners are allowed to buy units in the new 57-storey Pacifica project under construction in Auckland despite the government’s law change restricting non-citizens and non-residents’ purchase of property in New Zealand. Gavin Lloyd, residential projects national director at sole marketing agents CBRE, said developers of The Pacifica had been granted an exemption by the Overseas Investment Office so they could sell to foreigners. This was the first time the government had granted an exemption under the new anti-foreign buyer law, he said. The government passed amendments to the Overseas Investment…

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