Property News · May 26, 2020

Hong Kong homebuyers – spooked by recession, talk of national security law – forfeit US$1.5 million in deposits, walk away from purchases


Nineteen Hong Kong homebuyers who put down deposits for flats at the height of a market rally around June 2018 have walked away from their purchases, forfeiting as much as HK$11.83 million (US$1.53 million) and HK$12.4 million in two instances over the past month.Nine buyers walked away from Hong Kong developer K Wah International’s Solaria project in Tai Po district, forfeiting the HK$11.83 million on Friday, according to the project’s Register of Transactions.The second instance, of 10…

Source : South China Morning Post
Read more…Hong Kong homebuyers – spooked by recession, talk of national security law – forfeit US.5 million in deposits, walk away from purchases

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