Property News · August 23, 2019

Hong Kong developer Wheelock cuts price of new project, sparks fears of faster-than-expected correction in property market


Hong Kong developer Wheelock Properties has sparked fears of a faster-than-expected correction in the world’s most expensive property market by pricing a new project in Tseung Kwan O 8 per cent below properties sold in the area just two months ago.It has priced a first batch of 130 flats at the 674-unit Marini development, in Lohas Park, at an average of HK$14,997 (US$1,912.9) per square foot, after a 21.5 per cent discount.“The social unrest in the past two months has had a significant impact…

Source : South China Morning Post
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