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Hong Kong developers speed up new home sales at heavy discounts | HK Weekend Property Market Recap

Squarefoot Editor  2024-05-14  #Movie

Amid a declining market, CK Asset has introduced several new properties at surprisingly low prices to attract buyers.

Selling prices for Grand Jete’s Phase Two project in Tuen Mun started at about HK$12,500 per square foot, marking a 17% drop from Phase One prices just nine months earlier.

Most recently, the first batch of the Blue Coast project, situated above Wong Chuk Hang Station, has emerged as the most affordable new development on the market.

Beyond new developments, large discounts are also available on leftover stock. In October of 2021, during the peak of the real estate market, #LYOS sold 87% of its units. Yesterday, CK Asset announced that this coming Sunday, 14 multi-storey units and 14 garden duplex units will be put up for sale.

These multi-storey units are cases of forfeited deposits, now available at a discount of up to 25%. The garden duplex units feature price reductions of up to 32%. 

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