19 Mar '18, 1am

Home prices rise further in world’s least affordable city https://t.co/p2Xb8pVVws

Secondary home prices in Hong Kong have climbed once more, making property prices here 300% higher than its trough in 2003. Hong Kong Home prices climb 4% despite already being sky-high The prospering property market in Hong Kong also meant huge land plots exchanging hands, to everyone’s benefit. Recently, the HNA Group Co just sold a plot of land purchased just a year ago to Wheelock & Co for HK$6.36 billion (S$1.07 billion). And in turn, Wheelock & Co has sold 750 apartments at its new Kowloon project over the past weekend. Wheelock & Co paid 15% more than what HNA tendered for the 7,318 sq m plot of land near Kai Tak airport. And even at that sale last year, the Chinese company has outbid other Hong Kong property companies to win the tender. In a year, money was made and more likely than not, the buck will be passed on to the consumer. Sky-high property prices has not w...

Full article: https://www.iproperty.com.sg/news/home-prices-rise-furthe...

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