Hong Kong’s veteran property investors head for the exit amid fears of a deep and prolonged correction in prices

//Hong Kong’s veteran property investors head for the exit amid fears of a deep and prolonged correction in prices

Hong Kong’s veteran property investors head for the exit amid fears of a deep and prolonged correction in prices

Veteran investors in Hong Kong property, anticipating a deeper correction in prices amid dwindling buying activity, the coronavirus pandemic and worsening US-China relations, are rapidly cashing out of their holdings.Albert Wong Kam-hong, the former deputy chairman of real estate company Midland Holdings, for instance, sold his adjoining flats in The Coronation Tower near Kowloon Station for HK$22 million (US$2.8 million) last month. The 1,206 sq ft property, which he had bought eight years ago…

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By | 2020-09-14T23:00:19+00:00 September 14th, 2020|Business|Comments Off on Hong Kong’s veteran property investors head for the exit amid fears of a deep and prolonged correction in prices