Number of bids for Kai Tak residential plot falls below 2017 market peak, as recession, pandemic weigh on developer appetite

//Number of bids for Kai Tak residential plot falls below 2017 market peak, as recession, pandemic weigh on developer appetite

Number of bids for Kai Tak residential plot falls below 2017 market peak, as recession, pandemic weigh on developer appetite

The first residential plot at the site of Hong Kong’s former airport put on sale by the government this year has drawn a less than enthusiastic response from developers.The tender of Area 4E Site 1 at Kai Tak closed on Friday and drew 10 bids, according to the Lands Department. Residential plots at the former airport drew on average more than 16 bids during a market peak in 2017, according to JLL data.The response reflects caution among developers amid a recession, the coronavirus pandemic and…

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By | 2020-11-27T11:05:03+00:00 November 27th, 2020|Business|Comments Off on Number of bids for Kai Tak residential plot falls below 2017 market peak, as recession, pandemic weigh on developer appetite