More Hong Kong buyers are out of pocket as opaque practice of sale by tender becomes popular in residential real estate

//More Hong Kong buyers are out of pocket as opaque practice of sale by tender becomes popular in residential real estate

More Hong Kong buyers are out of pocket as opaque practice of sale by tender becomes popular in residential real estate

Two apartments of the same size and view, a floor from each other, sold in Tai Po recently with a price variance of half a million Hong Kong dollars (US$63,700) just two weeks apart. Another flat in The Horizon complex sold for HK$150,000 more than an identical unit just a day later.Price discrepancies are common in real estate, depending on location, fittings and furnishings. In Hong Kong, a unique practice makes the difference: sale by tender, where buyers submit their bids for property in a…

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By | 2019-05-04T05:00:06+00:00 May 4th, 2019|Business|Comments Off on More Hong Kong buyers are out of pocket as opaque practice of sale by tender becomes popular in residential real estate