Property News · February 12, 2019

Hong Kong’s glut of unsold flats could put more pressure on prices


Hong Kong home builders could face greater pressure to slash ­prices as the number of completed but unsold new flats they held increased at the end of last year.
Analysts said some home builders would offload stock by cutting prices by 5 per cent to 10 per cent from the current levels on completed unsold units, stepping up efforts to lower inventory as the government’s proposed vacancy tax looms.
The city’s developers held 3,295 unsold homes which were completed in 2017 and 2018…

Source : South China Morning Post
Read more…Hong Kong’s glut of unsold flats could put more pressure on prices

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