Developers in Hong Kong are slashing prices to move unsold inventory ahead of a possible tax on vacant properties. Photo: Winson Wong
Hong Kong’s glut of unsold flats could put more pressure on prices
- Some developers may offer discounts of as much as 10 per cent as proposed vacancy tax looms
- Completed but unsold units could see a further 5 per cent to 10 per cent decline, placing them on par with pre-owned homes
Developers in Hong Kong are slashing prices to move unsold inventory ahead of a possible tax on vacant properties. Photo: Winson Wong
