Property market in Hong Kong

This site at Kau To, Sha Tin, currently up for tender, could have its value affected by the low price paid for another plot of land yesterday. Photo: Nora Tam

Uncertain outlook drags on luxury flat site price

Wheelock Properties outbid 11 developers to win the 83,033 square foot site for HK$3.83 billion, or HK$9,875 per square foot. Surveyors had estimated it would fetch between HK$3.8 billion and HK$4.38 billion.

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