‘Race to the bottom’: Hong Kong home prices slump to multi-year lows, with change far off

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‘Race to the bottom’: Hong Kong home prices slump to multi-year lows, with change far off - SCMP

Quick Summary:

Recent new-home launches have sold poorly despite decade-low prices, while prices of lived-in flats hit a nearly eight-year low, according to JLL.

Meanwhile, in Kennedy Town, average per-square-foot prices were down 6 per cent to HK$22,022 from HK$23,424 in 2015.

The total number of property transactions – encompassing everything from homes and car parks to shops, industrial units and offices – fell 33 per cent to 4,939 as of June 27, from 7,361 in May.