A model of the Ontolo development in Mong Kok, where Great Eagle unveiled prices starting at HK$11,446 per sq ft, the cheapest in the area. Photo: Tory Ho
Hong Kong property
Hong Kong developers unlikely to increase prices of new flats as they try to offload 8,500 unsold units, Centaline says
- The developers may be keen to shift the stock because of the government’s proposed ‘vacancy tax’ which would penalise them for holding on to finished units
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Hong Kong property
A model of the Ontolo development in Mong Kok, where Great Eagle unveiled prices starting at HK$11,446 per sq ft, the cheapest in the area. Photo: Tory Ho