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‘As a developer you want your money back as soon as possible, and also to get a profit,’ an expert says. It’s advice the flagship developer of billionaire Li Ka-shing has long held close to its heart.
Developers were only able to sell 48 per cent of the nano flats available from January to November, versus 53 per cent for one-bedroom units and 67 per cent for two-bedroom units, according to Midland Realty.
The Hong Kong home market favours buyers as a looming prime rate hike and an ongoing wave of emigration continue to depress prices.
As many as 10,000 new flats may become available for sale in the fourth quarter in Hong Kong, after Carrie Lam Cheng Yuet-ngor, the city’s leader, unveils a widely expected blueprint for increasing land supply on October 6.