Sun Hung Kai halts price war in Yuen Long project, betting rate cuts will lure homebuyers

Quick Summary:

Hong Kong’s biggest developer may be signalling to the market that cheaper borrowing costs are good enough to lure homebuyers.

A weak economic outlook and borrowing costs at 17-year high have weakened demand as buyers hold out for cheaper prices.

That is unchanged from the level when it sold all 423 units in Tower Eight in May.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong KongChina

Topics: Units Sale Last Cheaper Borrowing Hung Rate Price Buyers Yuen Cuts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 19:33:35 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 282 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 29 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22566940

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