Property News · April 15, 2018

Developers’ hoard of empty flats aggravates Hong Kong’s housing crisis. Will a tax fix it?


Close to 300 flats lie disturbingly vacant in a completed new residential development in Ho Man Tin even as the Hong Kong government struggles to resolve the perennial short supply of housing in the world’s most expensive property market.
The 1,429-unit Mantin Heights project in Ho Man Tin was completed last year, but the developer, Kerry Properties, still hangs on to a fifth or about 300 completed flats, offering them in small numbers either through private tender or public sales.
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Source : South China Morning Post
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