Both transaction volume and home prices in Hong Kong’s secondary property market remain under pressure, as developers continue to launch new residential projects at low prices and homebuyers stay cautious amid uncertainties arising from US tariffs, market experts said.
“The cluster of secondary residential projects that are being affected by the low pricing of new projects are bigger due to convenience in transportation” said Norry Lee, senior director of projects strategy and consultancy in Hong Kong at real estate firm JLL.
A 502 sq ft, two-bedroom unit at Solaria in Tai Po was recently sold at a 30 per cent loss, according to an agent. The flat changed hands for HK$6.23 million after the owner bought it for HK$8.8 million in 2018. More