{"id":116647,"date":"2020-05-26T08:30:14","date_gmt":"2020-05-26T01:30:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-spooked-by-recession-talk-of-national-security-law-forfeit-us1-5-million-in-deposits-walk-away-from-purchases\/"},"modified":"2020-05-26T09:04:28","modified_gmt":"2020-05-26T02:04:28","slug":"hong-kong-homebuyers-spooked-by-recession-talk-of-national-security-law-forfeit-us1-5-million-in-deposits-walk-away-from-purchases","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-spooked-by-recession-talk-of-national-security-law-forfeit-us1-5-million-in-deposits-walk-away-from-purchases\/","title":{"rendered":"Hong Kong homebuyers \u2013 spooked by recession, talk of national security law \u2013 forfeit US$1.5 million in deposits, walk away from purchases"},"content":{"rendered":"


\nNineteen Hong Kong homebuyers who put down deposits for flats at the height of a market rally around June 2018 have walked away from their purchases, forfeiting as much as HK$11.83 million (US$1.53 million) and HK$12.4 million in two instances over the past month.Nine buyers walked away from Hong Kong developer K Wah International\u2019s Solaria project in Tai Po district, forfeiting the HK$11.83 million on Friday, according to the project\u2019s Register of Transactions.The second instance, of 10\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong homebuyers \u2013 spooked by recession, talk of national security law \u2013 forfeit US.5 million in deposits, walk away from purchases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nineteen Hong Kong homebuyers who put down deposits for flats at the height of a...<\/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-116647","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-ulp","jetpack-related-posts":[{"id":109482,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-transactions-drop-by-48-per-cent-to-yearly-low-deposits-worth-hk3-5-million-forfeited-as-protests-weigh-on-sentiment\/","url_meta":{"origin":116647,"position":0},"title":"Hong Kong property transactions drop by 48 per cent to yearly low, deposits worth HK$3.5 million forfeited as protests weigh on sentiment","date":"July 30, 2019","format":false,"excerpt":"\r Hong Kong homebuyers are having second thoughts about the biggest purchase of their lives, as nearly two months of unprecedented public unrest cast a pall over the city\u2019s real-estate market.Weekly transactions involving used homes fell to their lowest level this year on Sunday, according to one of the city\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100670,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/surge-in-hongkongers-walking-away-from-new-home-deposits-as-confidence-wanes\/","url_meta":{"origin":116647,"position":1},"title":"Surge in Hongkongers walking away from new-home deposits as confidence wanes","date":"October 30, 2018","format":false,"excerpt":"\r The number of Hong Kong homebuyers walking away from new home purchase agreements \u2013 and the 5 per cent deposits used to secure their applications \u2013 has surged to a record high, reflecting growing bearishness on the outlook for the world\u2019s most expensive property market. Since the start of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96179,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homebuyers-getting-cold-feet-in-hong-kongs-property-market-amid-growing-uncertainties\/","url_meta":{"origin":116647,"position":2},"title":"Homebuyers getting cold feet in Hong Kong\u2019s property market amid growing uncertainties","date":"August 17, 2018","format":false,"excerpt":"\r Some buyers are so edgy about the Hong Kong property market that they are pulling out of deals, despite losing big deposits. A buyer who agreed to buy a unit at Sun Hung Kai Properties\u2019 St Martin II two weeks ago cancelled the purchase on Thursday. The U-turn on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":129901,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-hong-kong-homebuyers-have-seen-their-purchasing-power-shrink-by-hk1-million-since-january\/","url_meta":{"origin":116647,"position":3},"title":"How Hong Kong homebuyers have seen their purchasing power shrink by HK$1 million since January","date":"September 23, 2022","format":false,"excerpt":"\r While potential homebuyers might have lost HK$1 million (US$127,390) in buying power so far this year, homeowners will see their mortgage payments go up after banks raised their prime rates.\r \r Source : South China Morning Post\r Read more...How Hong Kong homebuyers have seen their purchasing power shrink by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119291,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/record-number-of-homebuyers-walk-away-from-hong-kong-property-purchases-amid-rising-jobless-rate-pay-cuts-due-to-covid-19\/","url_meta":{"origin":116647,"position":4},"title":"Record number of homebuyers walk away from Hong Kong property purchases amid rising jobless rate, pay cuts due to Covid-19","date":"November 20, 2020","format":false,"excerpt":"\r The number of homebuyers reneging on flat purchases this year has reached an all-time high as the Covid-19 pandemic casts a shadow on the city\u2019s economy, pushing the unemployment rate up and forcing many companies to implement pay cuts as they struggle to stay in business.They have walked away\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-snap-up-flats-in-citys-first-two-sales-after-us-interest-rate-increase\/","url_meta":{"origin":116647,"position":5},"title":"Hong Kong homebuyers snap up flats in city\u2019s first two sales after US interest rate increase","date":"June 16, 2018","format":false,"excerpt":"\r Homebuyers in Hong Kong rushed to buy flats on Friday and Saturday in the city\u2019s first two sales after the US raised interest rates, indicating no dip in the buoyant and expensive local property market. As of 5pm on Saturday, all 119 units on offer, priced between HK$47.12 million\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\/116647"}],"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=116647"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116647\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}