Hong Kong’s new wealth hub status puts real estate in the spotlight

Hong Kong’s rise as a global private wealth hub is already translating into a new wave of demand in the city’s real estate sector.

In the first half of 2026, private wealth investors accounted for US$839 million in the city’s real estate transaction volumes, up 40% from a year earlier, JLL data shows. Living and multifamily assets accounted for nearly half of that volume, while office assets made up another 30%.

The spike in investment activity comes as Hong Kong edged ahead of Switzerland to become the world’s largest cross-border wealth hub for the first time, according to a report by Boston Consulting Group.

With cross-border wealth booked in the city reaching US$2.9 trillion last year and expected to grow at 9% annually, Hong Kong remains a magnet for private investors, particularly mainland Chinese, Indian, and Southeast Asian capital.

While recent wealth inflows and strong capital market activity have added to the city’s appeal, many of its advantages have been built over decades.

“Hong Kong is still one of the easiest places to set up a business, to invest and to live in, even when compared to other global gateway markets,” says Tim Graham, Global Lead, International and Strategic Capital, JLL Capital Markets.

“Its strong legal and regulatory framework, access to global capital, deep talent pool and connectivity to Mainland China continue to reinforce its status as a trusted international business and investment hub.”

One of the biggest drivers of Hong Kong’s new wealth hub status has been mainland Chinese capital, which accounted for 60% of cross-border assets under management, BCG data shows.

The city’s resurgence as a leading global fundraising venue has become another important draw for mainland Chinese capital.

“Hong Kong’s strength as the IPO capital of the world is highly attractive, particularly for Chinese firms looking to use the city as a launch pad to go global,” says Graham.

Last year, mainland Chinese companies accounted for 92% of all IPO listings and 85% of funds raised. The momentum continued into the first half of 2026, with listings and fundraising rising by 94% year on year, while more than 400 active IPO applications are in the pipeline for the rest of the year.

Over the next 12 months, opportunities for private wealth are expected to broaden across different real estate sectors, according to Dan Billig, Senior Director, Global Capital Markets, Hong Kong.

“We expect living assets, particularly prime residential and purpose-built student accommodation, to remain a key priority for private wealth, while improving fundamentals should also support renewed interest in strata offices and hotels,” says Billig.

Alongside opportunities at home, Hong Kong-based private wealth is beginning to look outward again.

“As the domestic real estate market gradually recovers and developers begin to realise exits, we’re seeing previously cautious private wealth groups reconsider diversification into other global gateway markets,” says Billig.