Hong Kong home builders such as CK Asset Holdings have hinted they will cut prices of new homes should the general market trend lower. Newly constructed residential buildings taking shape in the Kowloon district of Hong Kong. Photo: AFP

Brace for up to 20 per cent decline in Hong Kong home prices, CK Asset senior director says

  • Home prices could drop by up to 20 per cent in the next 22 months, as outlook darkens, says CK Asset executive director Justin Chiu
  • Expect builders to slash new home prices along with the sliding market, he says
Topic |   Hong Kong property

TOP PICKS

Hong Kong home builders such as CK Asset Holdings have hinted they will cut prices of new homes should the general market trend lower. Newly constructed residential buildings taking shape in the Kowloon district of Hong Kong. Photo: AFP
READ FULL ARTICLE
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
Topic |   Hong Kong property

TOP PICKS

Developers in Hong Kong are slashing prices to move unsold inventory ahead of a possible tax on vacant properties. Photo: Winson Wong
READ FULL ARTICLE