Property News · July 24, 2019

Hong Kong developers unlikely to increase prices of new flats as they try to offload 8,500 unsold units, Centaline says


Hong Kong builders will probably leave their prices virtually unchanged in the second half of the year, having accumulated close to 8,500 unsold units since 2016, according to Centaline Property Agency.The developers may be keener than they have been in the past to offload the stock because of the government’s proposed “vacancy tax” which would penalise them for holding on to finished units.“Developers will hardly want to increase selling prices by 20 to 30 per cent like they did in the first…

Source : South China Morning Post
Read more…Hong Kong developers unlikely to increase prices of new flats as they try to offload 8,500 unsold units, Centaline says

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