Property News · December 27, 2018

Hong Kong sells third housing plot on disused airport runway at 12.7 per cent discount, in another sign of property market woes


Hong Kong’s government, which relies on land sales for a substantial part of its revenue, has sold its final residential plot for the year at a 12.7 per cent discount to market valuation, in a further sign of the city’s cooling property market.
Kai Tak Area 4B Site 2, the third plot for sale in the former airport’s disused runway, sold for HK$8.03 billion (US$1.03 billion) to a unit of China Overseas Land & Investment, according to an announcement by the Lands Department….

Source : South China Morning Post
Read more…Hong Kong sells third housing plot on disused airport runway at 12.7 per cent discount, in another sign of property market woes

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