HK investors raise a toast to East

Hong Kong investors, for long buyers of properties in the United Kingdom and Australia, are turning their gaze from the West to the East and snapping up Asian realty, attracted by higher rents, lower capital outlay and long-term investment prospects.

Until now, they used to buy homes in the UK and Down Under so their children could stay and pursue higher education in those countries. One more reason was, it was considered good investment.

A 500-square-feet flat will cost 400,000 pounds ($533,000) in London and around A$600,000 ($455,300) in Sydney, Australia - not a small investment for average Hong Kong investors.