Property News · April 6, 2017

Midland reveals real estate rebate incentives soar 74pc in effort to lure buyers


Midland Holdings, Hong Kong’s only listed realtor, has revealed a 74 per cent rise in rebate incentives to HK$1 billion (US$128.7 million) last year, which significantly squeezed margins as competition remained fierce and transactions dwindled.
Its latest set of annual results show HK$11 million in net profit (US$1.41 million), despite its revenue climbing to a record high HK$5.07 billion. Agency fees accounted for 99.6 per cent of turnover.
Midland owns and operates 625 “Midland…

Source : South China Morning Post
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