Hong Kong developers’ acquisition of old buildings seen rising amid a drop in supply of urban residential plots

//Hong Kong developers’ acquisition of old buildings seen rising amid a drop in supply of urban residential plots

Hong Kong developers’ acquisition of old buildings seen rising amid a drop in supply of urban residential plots

With more than 30 residential buildings over 50 years old in urban areas due for redevelopment, small Hong Kong developers priced out of multibillion government land tenders amid diminishing land supply are likely to step up acquisitions of old dilapidated buildings.“We see more small to medium-sized developers are opting to buy dilapidated residential properties for redevelopment as they can hardly compete with cashed-up big players in government tenders,” said Alnwick Chan, executive director…

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By | 2021-02-23T23:35:09+00:00 February 23rd, 2021|Business|Comments Off on Hong Kong developers’ acquisition of old buildings seen rising amid a drop in supply of urban residential plots