The Great HK Property Fire Sale is Underway

Posted by Ed 13 mths ago
Cash-strapped HK property owners are offering assets for sale for as much as 30% off as the coronavirus impacts mount.  
An investment fund manager in London indicated that some assets were already price at 20-30% off prior to the pandemic, so there are expectations of deeper discounts to come 
Read More on the SCMP 

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Ed 12 mths ago
Hong Kong’s homebuyers shun property sales for the fourth weekend in a row as they await better deals amid a glut of options
- Wheelock Properties sold 13 flats, or 13 per cent of the 101 units on offer at its Grand Marini in Lohas Park as of 6:45pm, sales agents said
- CK Asset is likely to launch its Sea to Sky apartments in the same neighbourhood next month. The developer will be joined by several
Hong Kong’s property sales flopped for the fourth straight weekend, as homebuyers turned their backs on unsold projects to wait for better discounts, amid a real estate slump in the city’s worst economic contraction in decades.
Wheelock Properties sold 13 flats, or 13 per cent of the 101 units on offer at its Grand Marini project in Lohas Park as of 6:45pm, sales agents said. The same project was 90 per cent sold two months earlier, with 18 potential buyers vying for every available unit then.
“These are leftover stock,” said Ricacorp Properties’ associate director Alvin Leung, adding that prices of the latest phase had been gradually raised after the successes of the previous sales.
“Buyers are adopting a wait-and-see attitude, in anticipation of CK Asset’s upcoming project” that is expected to launch in the same neighbourhood in June, he said. 

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Womble68 11 mths ago
Checking into this forum again after another 12 of not bothering . Nothing changed here , doom and gloom , the end is neigh ! One of the worst years Hk has endured and still the property market has not crashed . For the past how many years (5-10?) have you been predicting the Hk property market to implode and yet here we are still standing , hot money rolling in and freshly minted millionaires reaping the benefits . I’ll be back in 12 months to read about how Trump , security law , the next virus is about to see it all come crashing down .
Might be time to change the record no one is reading .

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Ed 11 mths ago
You'll need to take that up with the SCMP...   I did not write this article.

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