Property News · January 24, 2019

Discounted Hong Kong development does not match demand for smaller apartments, fails to sell out


Hong Kong developer Sino Land managed to sell only 75 per cent of apartments put up for sale at heavy discounts at its Mayfair by The Sea 8 development in Tai Po. By 3pm on Wednesday, it had sold 171 out of a first batch of 228 units.
The sale comes amid warnings by analysts about further declines in prices. And at an average price of HK$13,228 (US$1,686) per square foot after the discount in the first price list, the property is going for 26.5 per cent less than the HK$18,000 fetched by St…

Source : South China Morning Post
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