Property News · April 24, 2020

Hong Kong developers scale back project launches, slow down construction as demand dries up due to coronavirus outbreak


The coronavirus outbreak is telling on Hong Kong’s property market. As the economic downturn dampens appetite for new homes, property developers are adopting a cautious approach, slowing down the construction of new projects and reducing the number of new flat launches.Building of new homes fell 77 per cent in the first quarter of the year from the previous three-month period to just 900 units, the lowest since the third quarter of 2017, data from the Transport and Housing Bureau shows.“The…

Source : South China Morning Post
Read more…Hong Kong developers scale back project launches, slow down construction as demand dries up due to coronavirus outbreak