Hong Kong developers are rushing to unload their unsold stocks of properties as fears grow of tougher market conditions after the government announced new measures to ease the city’s long running housing problems.
Last week the city’s chief executive, Carrie Lam Cheng Yuet-ngor, announced a vacancy tax on newly built flats that remain unsold for six months, as well as cutting the price of subsidised homes under the Housing Ownership Scheme to 52 per cent of market rates from 70 per…
Source : South China Morning Post
Read more…Hong Kong developers rush to sell flats on concerns new government measures could cool demand















