A pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. ChengA pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. Cheng
A pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. Cheng

Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction

  • About one-third of 98 foreclosed properties on the market have had their prices trimmed in June, according to Century 21 Surveyors
  • Business sentiment is at a multi-year low and Hongkongers are filing bankruptcies at the fastest pace since 2016
Topic |   Hong Kong property
A pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. ChengA pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. Cheng
A pedestrian looking at some distressed assets for auction in Hong Kong. Photo: K.Y. Cheng
READ FULL ARTICLE