$1.3 Million for a Tiny Flat? Another Scorching Weekend for Hong Kong Housing
- Developers speed up sales after Lam’s vacancy tax unveiled
- Sun Hung Kai offers properties at two projects at weekend
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High demand and a record local price for Sun Hung Kai Properties Ltd. units in Hong Kong at the weekend showed that the property market is yet to cool after Chief Executive Carrie Lam unveiled a vacancy tax.
The developer sold 44 of 45 flats at a North Point site on Sunday, varying from studios to two-bedroom apartments. The prices ranged from HK$10.25 million ($1.3 million) to HK$21.87 million, based on the maximum discounts offered to buyers.