Hong Kong's Property Swamp




Search  

ORIGINAL POST

POSTED BY Ed (32 days ago)
According to an industry veteran, the majority of units listed in the Hong Kong real-estate market do not exist, and those that do are often misleading


Do not take the words of Hong Kong property brokers at face value.

In fact, you might consider discounting 95% of what they say as nonsense – or worse.

These are the controversial views of Centaline Property Agency chairman Shih Wing-ching, who recently asserted that the Hong Kong property market has far fewer “real” listings than one would imagine.

Shih estimated that only about 10,000 out of 160,000 property units listed in the Hong Kong real-estate market have actual letters of authorization from the landlord.

In other words, the remaining 150,000 are actually “fake”, not “real”, estate.

http://www.atimes.com/article/fake-property-listings-are-common-practice-in-hong-kong/

COMMENTS

Ed (32 days ago)
Hmmmm.... I just counted 53,000+ properties for rent on one of the HK property sites....

Tropics (31 days ago)
It's a marketing gimmick. ''Oh I'm sorry that one's gone but I've got similar properties on my books...''

HK should regulate.

Ed (31 days ago)
Perhaps another model is required....

Ed (13 days ago)
... to drain the....

http://img14.deviantart.net/f309/i/2004/099/9/6/polluted_swamp.jpg


< Back to main category


>

You must be logged in to be able to reply. Login now.