{"id":119291,"date":"2020-11-20T08:30:58","date_gmt":"2020-11-20T01:30:58","guid":{"rendered":"http:\/\/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\/"},"modified":"2020-11-20T09:04:44","modified_gmt":"2020-11-20T02:04:44","slug":"record-number-of-homebuyers-walk-away-from-hong-kong-property-purchases-amid-rising-jobless-rate-pay-cuts-due-to-covid-19","status":"publish","type":"post","link":"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\/","title":{"rendered":"Record number of homebuyers walk away from Hong Kong property purchases amid rising jobless rate, pay cuts due to Covid-19"},"content":{"rendered":"


\nThe 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 from 47 deals this month alone, taking the total so far this year to 380, the highest since 2013 when record-keeping first started. Last year\u2019s cancellations stood at 335 versus 160 seven years ago.\u201cThe\u2026
\n
\nSource : South China Morning Post
\nRead more…Record number of homebuyers walk away from Hong Kong property purchases amid rising jobless rate, pay cuts due to Covid-19<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The number of homebuyers reneging on flat purchases this year has reached an all-time high...<\/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-119291","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-v23","jetpack-related-posts":[{"id":171270,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-pile-into-new-launches-despite-rate-jitters-and-middle-east-tensions\/","url_meta":{"origin":119291,"position":0},"title":"Hong Kong homebuyers pile into new launches despite rate jitters and Middle East tensions","date":"March 31, 2026","format":false,"excerpt":"\r Hong Kong homebuyers snapped up new launches on Tuesday as developers accelerated sales amid concerns over slower rate cuts and geopolitical tensions in the Middle East. By about 3:50pm, all 254 flats released at the La Mirabelle project in Tseung Kwan O had been sold, according to market agents.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116647,"url":"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\/","url_meta":{"origin":119291,"position":1},"title":"Hong Kong homebuyers \u2013 spooked by recession, talk of national security law \u2013 forfeit US$1.5 million in deposits, walk away from purchases","date":"May 26, 2020","format":false,"excerpt":"\r Nineteen 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-tips-for-homebuyers-catching-a-surprise-revival-in-hong-kong-housing-market\/","url_meta":{"origin":119291,"position":2},"title":"Four tips for homebuyers catching a surprise revival in Hong Kong housing market","date":"August 4, 2020","format":false,"excerpt":"\r Hong Kong\u2019s property market is showing some resilience of late as buyers throng showrooms on weekends in spite of the threat of rising Covid-19 infections, with prices and buying sentiment on the ascent.The upturn has come on the back brisk transactions in June and July amid expectations the Covid-19\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":161251,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-snap-up-the-citys-first-sale-after-rate-cuts\/","url_meta":{"origin":119291,"position":3},"title":"Hong Kong homebuyers snap up the city\u2019s first sale after rate cuts","date":"September 19, 2025","format":false,"excerpt":"\r Hong Kong\u2019s homebuyers defied a No 3 typhoon signal to snap up apartments during two property sales on Friday, entering the market after commercial banks lowered their prime lending rates a day earlier following the first rate cut by the local monetary authority. New World Development and CK Asset\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":149914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-demand-aided-by-stamp-duty-cuts-but-stocks-and-interest-rates-are-key\/","url_meta":{"origin":119291,"position":4},"title":"Hong Kong property demand aided by stamp duty cuts, but stocks and interest rates are key","date":"March 23, 2025","format":false,"excerpt":"\r The market\u2019s long-term recovery depends on interest rate trends, as homebuyers remain cautious amid the US-China trade war, experts say.\r \r Source : South China Morning Post\r Read more...Hong Kong property demand aided by stamp duty cuts, but stocks and interest rates are key","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119301,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homebuyers-snap-up-latest-batch-of-flats-at-pavilia-farm-as-they-ignore-rising-covid-19-infections-in-city\/","url_meta":{"origin":119291,"position":5},"title":"Homebuyers snap up latest batch of flats at Pavilia Farm as they ignore rising Covid-19 infections in city","date":"November 22, 2020","format":false,"excerpt":"\r New World Development has sold one-third of the flats on offer on Sunday in the second phase of The Pavilia Farm residential project in New Territories, as Hong Kong braces for more Covid-19 cases amid a new wave of infections across the city.Homebuyers snapped up 133 of the 396\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\/119291"}],"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=119291"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/119291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=119291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=119291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=119291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}