Further government restrictions on Hong Kong's property market combined with rocketing real estate prices could push wealthy Hong Kongers and mainland buyers to invest their money elsewhere in Asia.

Or at least that is what developers are hoping. 

It has become increasingly difficult for locals and foreigners to invest in their own market. Earlier this month Hong Kong authorities announced another step in restricting non-Hong Kong permanent residents from buying property, under a so-called "Hong Kong Land for Hong Kong People" campaign.

Hong Kong has also seen red-hot property price growth in recent years, taking its toll on demand as buyers fear a bubble.

As reported by real state agency Knight Frank recently, between January and June this year, Hong Kong luxury property prices were almost flat, rising just 0.3 per cent, year-on-year. This could be down to the fact that over five years, Hong Kong has been the world’s third-fastest riser, at 58.5 per cent, with Beijing in second place (84 per cent) and Jakarta at the top, at 88 per cent.

As a result, rarely a week goes by without a luxury property showcase in Hong Kong, as overseas developers look to tap the pool of yield-hungry investors in the city-state.

This weekend luxury developers including Banyan Tree Residences, Laguna Property and Angsana Residences will showcase international property investment opportunities in Asia at a two day event held at Island Tang, Hong Kong. Properties range from the Lofts at Laguna Village in Phuket, Thailand, to the Angsana Residences sea view apartments in Lăng Cô, Vietnam, Bintan in Indonesia, Lijiang in China and Bangkok in Thailand.

The developers hope to tap demand for lifestyle choices as well as investment opportunities. Despite Hong Kong's slump, luxury property prices in Asia rose by 3.4 per cent in the second quarter of this year, compared to a price rise of 1.3 per cent in Europe, according to Knight Frank’s Prime Global Cities Index, which tracks the performance of the top 5 per cent of mainstream housing markets. 

Eddy See, senior vice president and chief financial officer of Banyan Tree Holdings, told WealthBriefingAsia that his buyer demographic was mainly affluent individuals aged between 40 and 60,families and retired couples. "Hong Kong Chinese, Mainland Chinese and expats working in the region are all within our target market," he said, adding that there had been an increase in sales of residential 3-4 bedroom villas to Russian investors looking for a holiday home. 

Banyan Tree Residences, Phuket