27 Jan '14, 10am

#GlobalREBubble #Singapore #HK 'Hong Kong private home completions down in 2013' via @SGPropertyGuru

Jan 27, 2014 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Hong Kong posted its second-lowest private home completions in 2013 with only 8,300 units, an 18 percent decline from the 10,100 units completed in the previous year. This is also lower than the previous estimate by the government at 13,551 units. According to media reports, the decline may be attributed to the recently implement cooling measures in the country. Analysts noted that property curbs and new rules implemented last April not only delayed sales launches, they were also set to affect the profit margins of developers since many were forced to dangle discounts to attract buyers. Notably, Hong Kong’s second biggest developer, Cheung Kong (Holdings), offered discounts of up to 25 percent for a new home launched earlier this month. The discount was one of the highest offered by developers. On...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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