After providing discounts to promote sales, Hong Kong's largest real estate developer Sun Hung Baoma sold more than 200 homes in a day.
Bloomberg Society on Monday (October 7) quoted the developer representatives that the 204 sets of houses available to the Tianxi of Kai Tak District, the former airport in Hong Kong, all of which were all available for purchases.Sell.The average price of Tianxi? The average price after the first discount of Tianxi is about 20 % lower than the price of nearby new projects.
Although Hong Kong recently lowered the mortgage loan interest rate, it boosted market emotions, but real estate developers still face challenges of excess house supply.
Bloomberg Industry Studies stated that this forced builders to reduce prices to reduce the backlog of real estate.The number of backlogs of real estate has reached the highest level in 20 years, and it will restrict any significant rebound in the property market.
Tianxi? Tian was a project developed on the land with a price of HK $ 25.2 billion ($ 4.23 billion) in 2018, which was a record price at the time.
Bloomberg Industry Studies stated that with the pricing of the first batch of houses, developers may lose money because the average sales price is 38 % lower than the estimated profit loss balance of Hong Kong dollars per square foot.Sun Hung Kai also has 584 sets of houses in the second phase of the project.
