Hong Kong Builders Seen Slowing Home Sales to Control Prices
This article is for subscribers only.
Hong Kong builders will put the brakes on home sales for the rest of the year after government curbs to rein in prices sapped demand, according to Bocom International Holdings Co. and Centaline Property Agency Ltd.
Builders including Sun Hung Kai Properties Ltd. and Cheung Kong Holdings Ltd. sold about 4,320 new units for HK$40 billion ($5.2 billion) in the first half, both the lowest since the second half of 2008, according to figures compiled by realtor Centaline. A total of 7,183 units were sold for HK$66 billion in the second half of 2012, Centaline said.