{"id":100961,"date":"2018-11-06T16:50:23","date_gmt":"2018-11-06T09:50:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-latest-sign-hong-kong-is-shifting-to-a-buyers-market-auctioneers-having-trouble-selling-foreclosed-homes\/"},"modified":"2018-11-06T17:03:25","modified_gmt":"2018-11-06T10:03:25","slug":"in-latest-sign-hong-kong-is-shifting-to-a-buyers-market-auctioneers-having-trouble-selling-foreclosed-homes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-latest-sign-hong-kong-is-shifting-to-a-buyers-market-auctioneers-having-trouble-selling-foreclosed-homes\/","title":{"rendered":"In latest sign Hong Kong is shifting to a buyer\u2019s market, auctioneers having trouble selling foreclosed homes"},"content":{"rendered":"


\nIt\u2019s not just developers that are having trouble selling flats in Hong Kong. Now auctioneers are struggling to get high enough bids to clear out foreclosed homes.
\nA year ago, property prices were soaring, and auctioneers routinely saw new or used homes that had been repossessed by banks receive multiple bids before the hammer fell.
\nBut not now.
\nAt an auction Tuesday, only two out of nine foreclosed homes offered were sold, despite a high turnout of 65 prospective buyers. While the two…
\n
\nSource : South China Morning Post
\nRead more…In latest sign Hong Kong is shifting to a buyer\u2019s market, auctioneers having trouble selling foreclosed homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s not just developers that are having trouble selling flats in Hong Kong. Now auctioneers...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-100961","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qgp","jetpack-related-posts":[{"id":117304,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/banks-cut-prices-on-foreclosed-properties-in-hong-kong-as-buyers-turn-cautious-amid-distress-market-correction\/","url_meta":{"origin":100961,"position":0},"title":"Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction","date":"June 24, 2020","format":false,"excerpt":"\r Banks are being forced to reduce prices on foreclosed properties to recoup their loans, as buyers in Hong Kong become increasingly cautious about the economic outlook and a deeper market correction.About one-third of 98 foreclosed properties on the market have had their prices trimmed in June, according to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101574,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-auction-oddity-37-court-ordered-properties-for-sale-including-a-60-sq-ft-space-with-a-reserve-price-of-us128\/","url_meta":{"origin":100961,"position":1},"title":"Hong Kong auction oddity: 37 court-ordered properties for sale, including a 60 sq ft space with a reserve price of US$128","date":"November 23, 2018","format":false,"excerpt":"\r A 60 square foot industrial space in Fanling will be auctioned off at the ultra-low starting price of HK$1,000, among a batch of 37 industrial properties in adjacent buildings set to go under the hammer as part of a court-ordered sale on Wednesday. The company overseeing the property sale,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101059,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heres-how-hong-kong-let-the-air-out-of-its-property-bubble-without-popping-it\/","url_meta":{"origin":100961,"position":2},"title":"Here\u2019s how Hong Kong let the air out of its property bubble without popping it","date":"November 9, 2018","format":false,"excerpt":"\r Less than two months ago, Hong Kong was named home of the world\u2019s biggest property bubble. Now it may become known as the model for how to slowly deflate a bubble and avert a painful burst. Signs the air is slowly seeping out of the bubble are growing: Home\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreclosures-set-to-surge-as-hong-kong-homeowners-struggle-with-finances-due-to-recession-rising-unemployment\/","url_meta":{"origin":100961,"position":3},"title":"Foreclosures set to surge as Hong Kong homeowners struggle with finances due to recession, rising unemployment","date":"June 17, 2020","format":false,"excerpt":"\r The number of foreclosed properties in Hong Kong could reach the highest level since the global financial crisis early next year, as owners struggle to repay mortgages amid a recession-hit economy that has taken a toll on businesses and pushed the unemployment rate to the highest in more than\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137805,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-land-parcel-for-starter-homes-in-tsuen-wan-likely-to-draw-few-bids-as-high-interest-rates-subdue-market\/","url_meta":{"origin":100961,"position":4},"title":"Hong Kong property: land parcel for starter homes in Tsuen Wan likely to draw few bids as high interest rates subdue market","date":"June 23, 2023","format":false,"excerpt":"\r A plot of land in the western New Territories earmarked for almost 2,000 starter homes for middle-class Hong Kong families is expected to draw only a handful of low bids as high interest rates subdue market sentiment and the scale of the project deters developers.\r \r Source : South\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111389,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-im-under-the-hammer-at-the-auctioneers-eva-wiseman\/","url_meta":{"origin":100961,"position":5},"title":"Why I\u2019m under the hammer at the auctioneers | Eva Wiseman","date":"October 6, 2019","format":false,"excerpt":"\r So much to see \u2013 and best of all win \u2013 at my local auction houseIt seems I have\u2026 a hobby? When I wasn\u2019t looking a new trapdoor opened in the panelling of my personality and now I am an auction person. Every Monday I waddle to the auction\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100961"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=100961"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100961\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}