{"id":116011,"date":"2020-05-02T07:30:13","date_gmt":"2020-05-02T00:30:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-business-elite-are-cashing-in-their-luxury-villas-at-a-loss-as-they-brace-for-the-citys-worst-economic-recession\/"},"modified":"2020-05-02T08:02:54","modified_gmt":"2020-05-02T01:02:54","slug":"hong-kongs-business-elite-are-cashing-in-their-luxury-villas-at-a-loss-as-they-brace-for-the-citys-worst-economic-recession","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-business-elite-are-cashing-in-their-luxury-villas-at-a-loss-as-they-brace-for-the-citys-worst-economic-recession\/","title":{"rendered":"Hong Kong\u2019s business elite are cashing in their luxury villas at a loss as they brace for the city\u2019s worst economic recession"},"content":{"rendered":"


\nSome of Hong Kong\u2019s wealthy property owners are cashing in their luxury houses, often slashing the price to sell at a loss, as the city faces the threat of its worst recession ever.Many of them are company owners and executives looking to free up much-needed cash to keep their businesses going as the coronavirus pandemic ravages the economy, according to property agents.\u201cPeople are losing jobs or getting pay cuts because their companies are not doing well. Thus the business owners, who are the\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong\u2019s business elite are cashing in their luxury villas at a loss as they brace for the city\u2019s worst economic recession<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Some of Hong Kong\u2019s wealthy property owners are cashing in their luxury houses, often slashing...<\/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-116011","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-ub9","jetpack-related-posts":[{"id":118323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-retail-stand-off-turns-nasty-with-landlords-suing-tenants-to-recover-arrears-as-recession-deepens\/","url_meta":{"origin":116011,"position":0},"title":"Hong Kong retail stand-off turns nasty with landlords suing tenants to recover arrears as recession deepens","date":"August 21, 2020","format":false,"excerpt":"\r The months-long stand-off between Hong Kong\u2019s commercial landlords and retailers is taking a turn for the worse, as a third wave of coronavirus outbreak amid the city\u2019s worst recession crimped retail sales, pushing many businesses to the brink of bankruptcy.Harbour City, one of Hong Kong\u2019s best-known luxury shopping centres\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-hong-kong-villas-and-luxury-homes-turn-to-daily-leases-to-find-tenants-to-occupy-their-investments-as-buyers-stay-away\/","url_meta":{"origin":116011,"position":1},"title":"Owners of Hong Kong villas and luxury homes turn to daily leases to find tenants to occupy their investments as buyers stay away\n\u00a0","date":"October 15, 2019","format":false,"excerpt":"\r Investors of Hong Kong\u2019s luxury villas and bungalows, struggling to keep prices aloft amid the city\u2019s unprecedented civil strife and the US-China trade war, are resorting to innovative ways to find tenants and keep their property occupied.Some owners are putting their landed property out for rent on a daily\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-worst-recession-on-record-points-to-bleak-outlook-in-2021-for-residential-property-and-commercial-real-estate-prices\/","url_meta":{"origin":116011,"position":2},"title":"Hong Kong\u2019s worst recession on record points to bleak outlook in 2021 for residential property and commercial real estate prices","date":"January 2, 2021","format":false,"excerpt":"\r The coronavirus pandemic will continue to weigh on all segments of Hong Kong\u2019s property market this year. From mass housing to luxury residences, from offices to shops, no major segment will be spared from the recession and rising unemployment, analysts say.A straw poll of 20 analysts, agencies and developers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117164,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-luxury-property-market-is-buzzing-as-buyers-see-no-deterrent-in-hefty-stamp-duties-security-law-controversy\/","url_meta":{"origin":116011,"position":3},"title":"Hong Kong\u2019s luxury property market is buzzing as buyers see no deterrent in hefty stamp duties, security law controversy","date":"June 16, 2020","format":false,"excerpt":"\r Hong Kong\u2019s luxury property market is getting an endorsement from a couple of little-known investors, who are paying hefty stamp duties by picking up swanky villas amid the city\u2019s economic and political troubles.Phoenix Technology International Limited bought a 5,148 square feet villa at Mont Rouge in Kowloon Tong for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118909,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-mid-sized-developers-seek-to-create-markets-in-unlikely-niches-to-survive-citys-worst-economic-slump-on-record\/","url_meta":{"origin":116011,"position":4},"title":"Hong Kong\u2019s mid-sized developers seek to create markets in unlikely niches to survive city\u2019s worst economic slump on record","date":"October 14, 2020","format":false,"excerpt":"\r Hong Kong\u2019s real estate developers, particularly mid-sized companies that rely on a narrow segment for their sales, are diversifying their product offerings to find potential revenue in new market niches to help them survive the city\u2019s worst recession on record.\r\rSome of them are developing data centres, while others are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113283,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kingswood-tops-hong-kongs-most-actively-traded-address-list-of-2019-as-owners-cut-prices-ahead-of-biggest-home-sales-in-10-years\/","url_meta":{"origin":116011,"position":5},"title":"Kingswood tops Hong Kong\u2019s most actively traded address list of 2019 as owners cut prices ahead of biggest home sales in 10 years","date":"December 27, 2019","format":false,"excerpt":"\r Kingswood Villas, one of Hong Kong\u2019s largest housing communities, was the city\u2019s most actively traded address for the second consecutive year, as owners slashed prices ahead of a 2020 launch of the first major property project to come to market in the area in the past decade.As many as\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\/116011"}],"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=116011"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116011\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}