Hongkongers to keep forfeiting flat deposits at high rate, agents forecast

Quick Summary:

Deposit defaults on new homes shot up by 75 per cent to 449 last year, and property agents see the trend continuing into 2025.

Forfeits indicate either that buyers are not able to move forward with their purchases, or that they expect to find significantly better deals.

The final quarter saw 104 such cases, just short of triple the 40 cases in the third quarter.

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Article Details

Author / Journalist: Leopold Chen

Category: Business

Markets: Hong Kong

Topics: Buyers Number Expect Agents Cases Property Quarter Market Last Deposits Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-22 @ 08:30:08 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 222 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 32 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 25332648

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 13 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 58 minutes ago

Coverage Areas: Hong Kong

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Publisher ID: #42

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