Next-gen wealthy Hongkongers drop property for higher returns in deposits and hedge funds

Property is losing its sparkle for next-generation investors who prioritise liquidity, easy succession and higher returns

When Maria’s family moved out of their house in Hong Kong’s Southern district, one of the bigger jobs was packing her mother’s belongings, including the orange Hermes boxes that had accumulated in the family gym.

Her 86-year-old father was reluctant to rent, while her mother – who had spent her life buying homes – initially insisted that if they were going to rent, she wanted a house rather than a flat.

Three generations of the family now live there in separate rented flats of about 2,500 square feet each. Maria – who asked that her family name be withheld – shares one with her parents, her brother rents another, and her sister is preparing to move into a third.

The arrangement keeps the family close, but for Maria the more important question is what happens to the capital that would otherwise be tied up in another home.