Land prices in Kai Tak, the site of Hong Kong’s former airport, have fallen nearly 18 per cent since May. Photo: Roy Issa
Land prices in Kai Tak, the site of Hong Kong’s former airport, have fallen nearly 18 per cent since May. Photo: Roy Issa

Falling land values indicate developers are pessimistic about Hong Kong property sector’s outlook

  • Market observers say the uncertain economic outlook has made property developers more conservative in their land acquisitions as they look to ride out the downturn

Land prices in Kai Tak, the site of Hong Kong’s former airport, have fallen nearly 18 per cent since May. Photo: Roy Issa
Land prices in Kai Tak, the site of Hong Kong’s former airport, have fallen nearly 18 per cent since May. Photo: Roy Issa
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