Property News · October 16, 2018

Hong Kong scraps sale of world’s most expensive land site as market outlook turns cloudy


A luxury residential site on The Peak has been withdrawn from sale on Tuesday, a sign that developers are increasingly cautious about the Hong Kong market outlook as a sliding stock market, rising interest rates and the escalating US-China trade war could further dampen buying interest.
The Lands Department announced that it had rejected all five tenders received for the purchase of the plot on Mansfield Road, The Peak, after the tender closed on Friday as “the tendered premiums did not…

Source : South China Morning Post
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