Hong Kong likely surpass New York as top destination for mainland real estate investment

Total transactions of mainland real estate investments to Hang Kong reached around 36 billion HK dollars. [Photo: sina.com]

Real estate service company Colliers International says Hong Kong is likely to surpass New York this year as the top destination for the real estate investment from the Chinese mainland.

During the first quarter of this year, total transactions of mainland investments reached around 36 billion HK dollars.

The figure represents a growth of more than 210 percent from a year earlier.

Office buildings are popular target among mainland corporate investors.

Last year, mainland's real estate investment in Hong Kong hit over 40 billion HK dollars, only second to New York's record of over 44 billion HK dollars.