Property News · January 11, 2019

Buyer of house on The Peak in Hong Kong walks away from deal – loses US$4.6 million deposit


A buyer has walked away from the purchase of a luxury house on The Peak, losing a deposit of some HK$36.09 million (US$4.6 million) in the latest sign of trouble in Hong Kong’s property market.
The unidentified buyer did not proceed with the transaction for House 16 on Mount Nicholson, according to official documents, after agreeing to buy it for HK$721.88 million on December 31.
“It is definitely not good news for the market,” said JLL executive director Joseph Tsang.
“…

Source : South China Morning Post
Read more…Buyer of house on The Peak in Hong Kong walks away from deal – loses US.6 million deposit

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