Hong Kong developers keep pricing flats to move amid supply glut, high rates

Quick Summary:

New price lists from New World Development, Far East Consortium and Early Light International undercut recent nearby sales by up to a third amid buyer’s market – for those who can stomach the interest rates.

The 72 listed units – 30 one-bedroom units, 35 two-bedroom flats and seven three-bedrooms units – range from 260 to 666 sq ft, and the price range spans from HK$4.27 million to HK$13.89 million after discounts.

Hong Kong developers continue to rely on attractive pricing as a strategy to clear their swollen stock as interest-rate cuts and a stronger economic recovery fail to materialise, according to analysts and the latest price lists for sales that are soon to launch.

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Article Details

Author / Journalist: Eric Jiang

Category: Business

Markets: Hong KongChinaMonaco

Topics: Project Cent Foot Units Flats Average Price Sales Square Forest According

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 20:15:14 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 794 words

Reading Time: 5 minutes read

Sentences: 20 lines

Sentence Length: 40 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21627930

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