Hong Kong’s property market is coming under stress.
Jittery individual owners, aware of the risks from rising mortgage rates, turbulent stock market and weakening economic outlook, are offering massive price cuts as they expect sentiment to sour further.
Even developers, after cutting prices of brand new flats, have seen a marked decline in buying enthusiasm.
In Tin Shui Wai in the New Territories, a 544 square feet, three-bedroom flat at Kingswood Villa, was sold for HK$5.48 million (US…
Source : South China Morning Post
Read more…With few takers on the property market, jittery individual owners cut prices by up to HK0,000
