Property News · March 4, 2020

Hongkongers are selling their homes at huge losses to flee the city as coronavirus weighs on economy


Homeowners are dumping their properties in Hong Kong for as much as HK$11.6 million (US$1.5 million) in losses to pack up their bags because of the city’s dire economic prospects, analysts said. More could be pressured to sell into a weak market to hasten their emigration plans.At Valais in Sheung Shui, a 1,588-square foot house changed hands at HK$21.3 million for a loss of HK$10 million in late January at the onset of the coronavirus outbreak, according to property agents who declined to be…

Source : South China Morning Post
Read more…Hongkongers are selling their homes at huge losses to flee the city as coronavirus weighs on economy

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