Property News · January 3, 2019

Hong Kong’s leading property broker Centaline cries foul as Sino Land sets below market commission rate


The ties between Hong Kong’s property developers and sales agents are fraying, as declining prices in a cooling market crimps profit margins, causing the two former partners to turn against each other.
On December 29, Sino Land said it would pay just 1.7 per cent in commission fees for its Grand Central project in Kwun Tong, only after brokers had helped the developer to sell 1,345 flats and rake in HK$16.8 billion (US$2.1 billion), according to Centaline Property Agency, one of the city…

Source : South China Morning Post
Read more…Hong Kong’s leading property broker Centaline cries foul as Sino Land sets below market commission rate