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Hong Kong Luxury Home Buyers Line Up Amid Talk of Last Hurrah

In a shopping mall in one of Hong Kong's prime retail districts, more than 100 people wait patiently to take a lift to the sales floors - not to buy luxury bags or clothes, but high-end apartments with price tags of up to $4.4 million. Foster Lee, a 30-year-old banker, was among the lucky ones who won the chance to buy a unit after a ballot in which more than 1,600 people signed up for just 80 luxury units on offer. “I was expecting home prices to fall four years ago and ...

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