More Hong Kong homes sell at a loss despite signs prices have bottomed: agents
There were at least 100 loss-making transactions for secondary homes in September despite prices edging higher, agents say
Hong Kong’s property market dodged an immediate setback from the US Federal Reserve’s rate increase in September, and agents estimated that home prices could end the year 15 per cent higher than a year earlier. The positive trend, however, did not generally apply to the secondary home market, agents added.
Loss-making secondary-home transactions last month were recorded across Hong Kong Island, Kowloon and the New Territories, spanning both the luxury and mass-market segments. The losses ranged from more than 10 per cent to as much as 30 per cent, according to sources.
