{"id":118287,"date":"2020-08-19T07:30:16","date_gmt":"2020-08-19T00:30:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronavirus-economic-slump-force-mainland-chinese-owners-to-dump-their-luxury-hong-kong-properties-at-steep-losses\/"},"modified":"2020-08-19T08:04:16","modified_gmt":"2020-08-19T01:04:16","slug":"coronavirus-economic-slump-force-mainland-chinese-owners-to-dump-their-luxury-hong-kong-properties-at-steep-losses","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronavirus-economic-slump-force-mainland-chinese-owners-to-dump-their-luxury-hong-kong-properties-at-steep-losses\/","title":{"rendered":"Coronavirus, economic slump force mainland Chinese owners to dump their luxury Hong Kong properties at steep losses"},"content":{"rendered":"


\nSome heavily indebted mainland Chinese owners have been forced to sell their luxury apartments in Hong Kong at huge losses or discounts, as the economic slump at home takes a toll and a fresh wave of coronavirus makes them question the wisdom of holding on to the assets in the city.At least 10 transactions \u2013 nine residential properties and one parking space \u2013 have incurred big losses, of up to HK$8.2 million (US$1.06 million), or been sold with steep discounts since the second half of July,\u2026
\n
\nSource : South China Morning Post
\nRead more…Coronavirus, economic slump force mainland Chinese owners to dump their luxury Hong Kong properties at steep losses<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Some heavily indebted mainland Chinese owners have been forced to sell their luxury apartments in...<\/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-118287","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-uLR","jetpack-related-posts":[{"id":120796,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coronavirus-hong-kong-luxury-property-awaits-shenzhen-border-opening-for-the-next-leap-upwards\/","url_meta":{"origin":118287,"position":0},"title":"Coronavirus Hong Kong: luxury property awaits Shenzhen border opening for the next leap upwards","date":"June 23, 2021","format":false,"excerpt":"\r An influx of mainland Chinese buyers into Hong Kong\u2019s super-deluxe developments since early this year could further fuel home prices in the world\u2019s most expensive property market, and the trend will become more obvious once the border open.Buyers who settled in Hong Kong from mainland China, dubbed \u201cnew Hongkongers\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wharf-firms-up-balance-sheet-as-hong-kong-home-sales-cushion-profit-slump\/","url_meta":{"origin":118287,"position":1},"title":"Wharf firms up balance sheet as Hong Kong home sales cushion profit slump","date":"August 11, 2026","format":false,"excerpt":"\r Hong Kong developer Wharf (Holdings) is increasingly relying on Hong Kong\u2019s luxury-home market to offset weakness in mainland China, while paring investments and building up cash as it navigates an uncertain outlook. Revenue from Wharf\u2019s Hong Kong development properties nearly tripled to HK$1.35 billion (US$172 million) from HK$475 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139129,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-luxury-home-market-awaits-return-of-affluent-mainland-chinese-buyers-as-citys-talent-scheme-powers-rentals\/","url_meta":{"origin":118287,"position":2},"title":"Hong Kong luxury home market awaits return of affluent mainland Chinese buyers, as city\u2019s talent scheme powers rentals","date":"September 10, 2023","format":false,"excerpt":"\r The wait could take longer, according to analysts, as high borrowing costs and economic uncertainty continue to weigh on investors\u2019 appetite for luxury flats in the city.\r \r Source : South China Morning Post\r Read more...Hong Kong luxury home market awaits return of affluent mainland Chinese buyers, as city\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115983,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-misery-forces-luxury-hoteliers-to-delay-1000-odd-new-rooms-with-market-at-disastrous-levels-due-to-coronavirus-and-anti-government-protests\/","url_meta":{"origin":118287,"position":3},"title":"Hong Kong misery forces luxury hoteliers to delay 1,000-odd new rooms with market at disastrous levels due to coronavirus and anti-government protests","date":"May 1, 2020","format":false,"excerpt":"\r Hong Kong\u2019s luxury hotel owners have postponed plans to add more than 1,000 new rooms to a \u201cdisastrous\u201d market still reeling from an economic slump caused by months of social unrest and the coronavirus outbreak.CK Asset Holdings has deferred the opening of its 840-room Hotel Alexandra in Fortress Hill\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":126946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-real-estate-owners-seek-alternative-uses-for-retail-complexes-and-hotels-amid-tourism-slump\/","url_meta":{"origin":118287,"position":4},"title":"Hong Kong real estate owners seek alternative uses for retail complexes and hotels amid tourism slump","date":"June 7, 2022","format":false,"excerpt":"\r Hong Kong\u2019s retail landlords and hotel owners, unable to bear the losses from an enduring tourism slump, apply to the Town Planning Board to convert their properties for alternative purposes such as cafes and housing.\r \r Source : South China Morning Post\r Read more...Hong Kong real estate owners seek\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110026,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-chinese-investors-suffer-big-losses-after-panicking-and-dumping-property-investments-in-hong-kong\/","url_meta":{"origin":118287,"position":5},"title":"Some Chinese investors suffer big losses after panicking and dumping property investments in Hong Kong","date":"August 20, 2019","format":false,"excerpt":"\r Some mainland Chinese investors who bought properties in Hong Kong at high prices several years ago have panicked amid souring sentiment and sold at big losses of up to HK$8.2 million.For instance, Xiao Yonghong and Sun Darui, the younger sister and brother-in-law of missing Chinese billionaire Xiao Jianhua \u2013\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\/118287"}],"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=118287"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118287\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}