Nan Fung Development has become the second Hong Kong developer to sell new homes below market price as the property market in the world’s least affordable city starts to feel the effects of rising interest rates, cooling measures and a slowing Chinese economy.
Housing policies announced by the city’s Chief Executive Carrie Lam Cheng Yuet-ngor in late June, including a tax on new flats that remain vacant, had played a part in weakening developers’ aggression when pricing homes…
Source : South China Morning Post
Read more…Nan Fung prices new flats below market rate as cooling measures threaten Hong Kong’s property rally















