Hong Kong’s tycoons are selling trophy homes at fire sale prices

Quick Summary:

The collapse of China’s real estate market and its aftermath left many tycoons short on cash.

The Hong Kong dollar is pegged to the US dollar, and for four years, the Federal Reserve kept interest rates high to fight inflation.

Nearly two dozen properties, each worth US$50 million or more, have come on the market in Hong Kong in 2024.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Estate Kong’s Homes Real Hong Kong Million China’s Property China Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 07:22:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1178 words

Reading Time: 7 minutes read

Sentences: 52 lines

Sentence Length: 23 words per sentence (average)

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

Copyright Owner: © The Straits Times

News ID: 23562463

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 15 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 2 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #25

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