Property News · October 30, 2018

Surge in Hongkongers walking away from new-home deposits as confidence wanes


The number of Hong Kong homebuyers walking away from new home purchase agreements – and the 5 per cent deposits used to secure their applications – has surged to a record high, reflecting growing bearishness on the outlook for the world’s most expensive property market.
Since the start of the year through last Friday, a total of 36 homebuyers have opted to cancel their applications, in some cases forfeiting deposits worth as much as HK$2 million (US$254,979), according to data…

Source : South China Morning Post
Read more…Surge in Hongkongers walking away from new-home deposits as confidence wanes

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