Mainland China’s luxury housing boom is keeping wealthy buyers at home, report says

China’s booming luxury housing market is keeping more wealth onshore, a trend that analysts say may pose a growing challenge to Hong Kong’s still resilient high-end residential market. A report by Gavekal Dragonomics analyst Zhang Xiaoxi said Beijing’s tightening crackdown on illicit capital outflows, including through Hong Kong’s “grey market”, was making domestic luxury property an increasingly attractive store of value for wealthy mainland Chinese. While China’s broader housing market...