Banks are being forced to reduce prices on foreclosed properties to recoup their loans, as buyers in Hong Kong become increasingly cautious about the economic outlook and a deeper market correction.About one-third of 98 foreclosed properties on the market have had their prices trimmed in June, according to the latest list creditors give agents, up from about a quarter in April, according to Century 21 Surveyors. The average price reduction was 6 per cent.“This is the latest trend, there is some…
Source : South China Morning Post
Read more…Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction















