Property News · July 17, 2019

Developer of some of Hong Kong’s smallest abodes may have sold at a loss just to clear the flats off its books to avoid vacancy tax


Mainland property developers that arrived late to Hong Kong are discovering not everything always ends well when it comes to risk taking in the world’s least affordable market for home ownership.Chinese developer Jiayuan International Group appears on track for a slim profit or even a loss in its first residential property investment in the city. The developer gave discounts of up to 37.6 per cent at T-Plus, a residential development in Tuen Mun featuring “micro homes”.The new price list,…

Source : South China Morning Post
Read more…Developer of some of Hong Kong’s smallest abodes may have sold at a loss just to clear the flats off its books to avoid vacancy tax