Hong Kong Property Developers Sell Low on Rate Hike, More Supply
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Property developers are cutting prices in Hong Kong to lure buyers amid the increasing downside risks in the world’s least-affordable housing market.
Vanke Property Overseas Ltd. released 231 units of its new project Le Point in Tuen Mun Friday, with prices as low as HK$9,878 ($1,265) per square foot, the lowest in the primary new-home market in about two years, according to a Ming Pao report Saturday.