Property News · June 5, 2018

Prices, infrastructure and existing occupants among concerns as Tang family auctions New Territories farmland


A private auction next week of 10 plots of farmland in Yuen Long by a local family has been met with scepticism among surveyors and developers. Yuen Long is an area located in Hong Kong’s New Territories.
The pieces of land, which span 119,000 sq ft, are owned by the Tang family and are estimated to be worth about HK$370 million (US$47.15 million), or HK$3,100 per square foot. The auction is on June 11 and the prices could range from HK$5.23 million for a plot of 1,307 sq ft to HK$125…

Source : South China Morning Post
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