Hong Kong Property Discounts Are the Latest Sign the Boom Is Over
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Hong Kong developers are offering discounts at new projects in the latest sign the city’s housing boom is coming off the boil.
Country Garden Holdings Co. and Wang On Properties Ltd. are giving discounts of as much as 12 percent at their Altissimo project in the New Territories, a price list shows. Employees of the two developers are granted an additional 5 percent deduction. Lai Sun Development Co. has cut prices 10 percent at eight units in a project on Hong Kong Island.