Midland Holdings said Hong Kong’s social distancing policies would weigh on property market sentiment through the first six months, after the city’s sole publicly traded real estate agency posted its third annual profits slump in four years. Net income fell 24 per cent to HK$100 million (US$12.8 million) last year, without the one-off employment support scheme that had helped it swing to profit in 2020. Revenue, 99 per cent contributed by agency fees, rose 20.5 per cent to HK$6 billion, the…
Source : South China Morning Post
Read more…Midland says Hong Kong’s property doldrums will remain through the first half as Covid-19 weighs on buying sentiment for real estate
