A spectre looms over Hong Kong’s property market
Why mortgage payments in the city can be ghoulishly expensive
Properties on the Peak, a rich neighbourhood in Hong Kong, are among the world’s most desirable. But nobody lives in Dragon Lodge, an Italianate mansion built in the 1920s. It was abandoned shortly after it sold, for HK$118m ($15m), in 1997. Rumour has it that nuns were beheaded there during the Japanese occupation in the second world war; they haunt the shadowy halls.
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This article appeared in the China section of the print edition under the headline “The spectre of lower prices”
From the July 20th 2024 edition
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Trump, trade and feeding China’s pigs
As a trade war looms, China looks to cut its reliance on America
Helping America’s hawks get inside the head of Xi Jinping
China’s leader is a risk-taker. How far will he go in confronting America?
Snuffing out the flame of freedom in Hong Kong
Dozens of pro-democracy activists are thrown into jail for up to a decade
China’s greatest dumpling run
A big gathering of young cyclists is ended by officials
A spate of horrific car-rammings shakes China
They are known as “revenge on society” attacks
Mega-polluter China believes it is a climate saviour
It accounts for almost 40% of global investment in clean energy
