Hong Kong's Distressed Mansion Sales Driven by Cash-Rich Buyers
- Such sales are likely to continue for rest of year: Savills
- Troubled owners have increasingly been offloading properties
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Hong Kong’s recent streak of distressed luxury property sales should persist through the rest of the year, helped by buyers flush with cash, according to Savills Plc brokers.
The market is “dominated” by cash-rich buyers who can step in right away to meet the financial needs of sellers and receivers, top executives from the real estate firm said at a media briefing in the city this week.