Developers Offering Free Holidays in Bid to Shift Hong Kong Property
- Incentives are being offered ahead of planned vacancy tax
- Sun Hung Kai willing to loan up to 100% of a unit’s cost
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Developers in Hong Kong are offering perks such as free rail tickets and early move-in dates in a further sign one of the world’s hottest property markets may finally be cooling.
In a bid to shift apartments, CK Asset Holdings Ltd. is giving away high-speed rail holiday and travel packages, including accommodation, worth HK$280,000 ($35,700) for people who agree to purchase one of its four-bedroom units at a development in Hong Kong’s west. At Kerry Properties Ltd.’s Mantin Heights project in Kowloon, you can move in after paying only a 10 percent deposit, and for the first two years, buyers just have to pay government rates and management fees.