Sales of newly completed flats flopped for a second consecutive weekend in Hong Kong, as a stock market rout, rising mortgages and the worsening US-China trade war deterred buyers from two newly completed apartment projects in the city.
Nan Fung managed to sell only 100 units, or 20 per cent of the 491 flats offered, at its LP6 project at Lohas Park in Tseung Kwan O as of 5:30pm on Saturday, even after discounting the offers by 19.5 per cent, for an average price of HK$16,006 per square foot….
Source : South China Morning Post
Read more…Hong Kong’s home sales flop as market rout, higher mortgages deter residential property buyers















