Property News · July 31, 2018

Prices of luxury homes in New Territories expected to dip as developers rush to offload stock


About 1,500 luxury homes will come onto the Hong Kong market in the next couple of years as developers race to avoid a new tax on empty properties, JLL estimates.
Analysts are expecting the price of top-end units, particularly those in the city’s New Territories, to go down as a result.
“Developers have to put their precious long-saved luxury projects on the market in order to avoid the tax. The old practice of holding on and waiting for deep-pocketed buyers to pay higher prices is…

Source : South China Morning Post
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