chinese actually have as strong a property bias as australians.
thats why chinese stocks are now surging - because for the first time since they were reintroduced to the concept of personal ownership in the 90s - chinese are learning property prices can go down.
they are at the opposite end of the spectrum the yanks were in GFC
but at heart chinese will always be about property - IPP will gradually become a very stout business
the real challenge is whether IPP can egnerate the income from r/e agents that REA does.,
i dont know the hong kong property market so i couldnt comment
but if they attracxt the same margin and scale they will eventually get the same multiple if not more - given a higher poopulation size footprint
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