Property News · October 26, 2018

Hong Kong developers face fresh pressure to sell as completed new units jump 30 per cent in third quarter


New flats have been quickly rolling off the Hong Kong assembly line, recording a 30 per cent jump in the completion rate in the July-to-September period, adding pressure on developers to speed up sales ahead of an expected vacancy tax to deter hoarding.
Private flat completion stood at 6,500 for the three months, up from 5,000 in the previous quarter, according to data from the Transport and Housing Bureau released on Friday.
This equates to a total supply of 12,700 new private flats in the…

Source : South China Morning Post
Read more…Hong Kong developers face fresh pressure to sell as completed new units jump 30 per cent in third quarter

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