Home-buyers who bought at the top of the market are demanding discounts from developers to compensate for the collapse in property prices.
People who had agreed to buy when the market was booming now face payments of up to 70 per cent of the value of their properties, despite a 40 per cent correction in prices.
New World Development and HKR International have refused to reduce prices on a residential project in Tsuen Wan after 150 home-buyers demanded a discount.
The Hong Kong Housing Society's Jubilant Place in To Kwa Wan has also received complaints from buyers who claim of difficulties in obtaining bank finance.
Home-buyers at Discovery Park phase two and three asked for a 30 per cent cut on the agreed selling price, arguing prices had dropped drastically from their peak.
The developers said they would provide second mortgages to buyers who had problems completing their purchases.