Why mainland Chinese still drive Hong Kong’s housing market despite Beijing’s 20% tax

Although the Chinese government imposed a 20 per cent tax on rental income and capital gains derived from overseas properties transferred into offshore trusts by mainland residents, agents said these investors remained a key driver of the Hong Kong property market.

China’s Ministry of Finance and the State Taxation Administration said in July that rental earnings – profits from the sale of properties and investment gains derived from assets including real estate, stocks or equity interests held...