Property News · September 27, 2018

Homeowners slash prices by up to 16 per cent as ‘fear’ grips Hong Kong in wake of prime rate hike


Fears of a drop in home prices are growing in the world’s least affordable housing market as at least five homes were unloaded at discounts of up to 16 per cent on Thursday, following higher mortgage lending rates unveiled by 11 local banks.
In anticipation of higher prime lending rates, more than 10 local homeowners reduced their asking prices by at least HK$1 million (US$127,951) in the last few days.
One 735 square foot flat at the Metro City development in Tseung Kwan O was sold for…

Source : South China Morning Post
Read more…Homeowners slash prices by up to 16 per cent as ‘fear’ grips Hong Kong in wake of prime rate hike

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