Property News · June 11, 2018

Hong Kong’s first private auction of farmland flops, in a setback to plan to bolster housing supply


Hong Kong’s first private auction of convertible farmland failed to find a buyer, in a setback to the city government’s plan to make more plots available for the construction of residential buildings.
Not a single person out of nine registered bidders showed his hand during 30 minutes of hushed proceedings at the auctioneer’s office in Central on Monday, even though 40 people showed up at the sale, where 10 plots of land in Yuen Long measuring a total 119,000 square feet (11,…

Source : South China Morning Post
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