The first residential plot for sale on the runway of the city’s former Kai Tak airport received eight bids from property developers at the tender close on Friday, reflecting a weakening appetite for land acquisitions as the city’s property market comes under pressure amid a worsening US-China trade war and rising interest rates.
Ahead of the tender, property analysts had cut estimates on the value of the site, with a gross floor area of up to 574,615 square feet, by as much as 15…
Source : South China Morning Post
Read more…First land plot for sale on the former runway at Kai Tak receives ‘lacklustre’ response from developers
