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DAB wants flats deal for mainlanders Plan may allow developers to sell Hong Kong properties across the border and get around currency restrictions.
(From South China Morning Post)
Byline: Gary Cheung and Kelvin Chan
A pro-Beijing party has asked the central government to consider allowing mainland residents to buy property in Hong Kong through transactions completed on the mainland.
The Democratic Alliance for Betterment of Hong Kong (DAB) said the proposal, which would boost Hong Kong's battered property market, did not appear to breach the mainland's foreign exchange controls.
Under the Capital Investment Entrant Scheme announced on September 30, overseas investors will get right of abode in Hong Kong if they invest $6.5 million in property or financial assets. But the plan does …
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