{"id":117304,"date":"2020-06-24T08:00:14","date_gmt":"2020-06-24T01:00:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/banks-cut-prices-on-foreclosed-properties-in-hong-kong-as-buyers-turn-cautious-amid-distress-market-correction\/"},"modified":"2020-06-24T08:07:05","modified_gmt":"2020-06-24T01:07:05","slug":"banks-cut-prices-on-foreclosed-properties-in-hong-kong-as-buyers-turn-cautious-amid-distress-market-correction","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/banks-cut-prices-on-foreclosed-properties-in-hong-kong-as-buyers-turn-cautious-amid-distress-market-correction\/","title":{"rendered":"Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction"},"content":{"rendered":"


\nBanks 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 latest list creditors give agents, up from about a quarter in April, according to Century 21 Surveyors. The average price reduction was 6 per cent.\u201cThis is the latest trend, there is some\u2026
\n
\nSource : South China Morning Post
\nRead more…Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Banks are being forced to reduce prices on foreclosed properties to recoup their loans, as...<\/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-117304","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-uw0","jetpack-related-posts":[{"id":100961,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-latest-sign-hong-kong-is-shifting-to-a-buyers-market-auctioneers-having-trouble-selling-foreclosed-homes\/","url_meta":{"origin":117304,"position":0},"title":"In latest sign Hong Kong is shifting to a buyer\u2019s market, auctioneers having trouble selling foreclosed homes","date":"November 6, 2018","format":false,"excerpt":"\r It\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. A year ago, property prices were soaring, and auctioneers routinely saw new or used homes that had been repossessed by banks receive\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":117304,"position":1},"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":140869,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-ordinary-buyers-eye-foreclosed-homes-at-heavy-discounts-as-investors-retreat-from-market\/","url_meta":{"origin":117304,"position":2},"title":"China property: ordinary buyers eye foreclosed homes at heavy discounts as investors retreat from market","date":"December 31, 2023","format":false,"excerpt":"\r A growing number of ordinary homebuyers looking to occupy their house rather than invest are looking at properties that have been repossessed by banks as a supply surge brings prices even lower.\r \r Source : South China Morning Post\r Read more...China property: ordinary buyers eye foreclosed homes at heavy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172272,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-based-investors-now-the-top-non-local-buyers-of-hong-kong-office-assets\/","url_meta":{"origin":117304,"position":3},"title":"Singapore-based investors now the top non-local buyers of Hong Kong office assets","date":"July 28, 2026","format":false,"excerpt":"\r Singapore-based investors have become the largest group of non-local buyers of commercial properties in Hong Kong, drawn by the sizeable correction in the prices of distressed assets amid a slump in the city\u2019s office segment, according to Colliers. The demand from Singapore was likely to remain steady in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-hk-developers-being-too-generous-with-mortgages\/","url_meta":{"origin":117304,"position":4},"title":"Are HK developers being too generous with mortgages?","date":"July 7, 2016","format":false,"excerpt":"\r Buyers are being tempted by 120 percent mortgages Another day, another dollar. Image credit: Krystal T (Flickr) Non-banking lenders are getting a tad too generous. This was the view of the Hong Kong Monetary Authority regarding the phenomenon of high mortgage loan-to-value ratios being bandied by property developers recently\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":117304,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117304"}],"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=117304"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}