Demand for Hong Kong’s luxury homes slips



Posted by Ed 2 mths ago
  • The proposed law that sparked weeks of mass rallies has made some super-rich investors look beyond Hong Kong to park their wealth, says Savills
  • Prices of town houses, typically ranging from 2,000 to 4,000 square feet, fell 1.5 per cent in the second half

The double whammy of the US-China trade war and the threat of a controversial extradition bill that led to weeks of mass rallies in Hong Kong has hit demand for the city’s ultra-luxury homes, new figures show.
Property consultancy Savills said enquiries about homes priced between HK$40,000 (US$5,111) and HK$100,000 per square foot fell in the second quarter of the year, leading to a 1.5 per cent slide in prices of town houses, whose size typically ranges from 2,000 to 4,000 square feet.
It was the first fall in town house prices since the third quarter of 2018 and comes on the back of increases of between 1.5 per cent and 4.3 per cent.

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