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Realtors Investigated in Hong Kong on Overseas Property Sales

By Tony Seruga

Lawmaker confirms investigations after meeting with regulator
Record number of complaints in 2016 after projects fail

Hong Kong’s securities regulator is investigating whether realtors selling overseas properties are illegally marketing investment plans, according to a lawmaker helping investors who lost money on such deals.

Buyers argued that developments promoting guaranteed rental income are so-called collective investment schemes, which need approval from the Securities and Futures Commission, said James To Kun-sun, a member of the city’s legislature. Individuals who lost money on at least 15 uncompleted U.K. developments have complained, said To, who met with the agency on March 7…

Realtors Investigated in Hong Kong on Overseas Property Sales

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