Two apartments of the same size and view, a floor from each other, sold in Tai Po recently with a price variance of half a million Hong Kong dollars (US$63,700) just two weeks apart. Another flat in The Horizon complex sold for HK$150,000 more than an identical unit just a day later.Price discrepancies are common in real estate, depending on location, fittings and furnishings. In Hong Kong, a unique practice makes the difference: sale by tender, where buyers submit their bids for property in a…
Source : South China Morning Post
Read more…More Hong Kong buyers are out of pocket as opaque practice of sale by tender becomes popular in residential real estate















