Hong Kong raised a No. 8 typhoon warning signal as Typhoon Talim swept south of Hong Kong. But that didn’t stop buyers from purchasing new homes.
In other news, one home owner made a huge profit of HK$10.8 million (US$1.4 million).
Held for over 40 years, they sold their three-bedroom flat for HK$11 million. They had purchased the flat in 1977 for HK$183,000.
Meanwhile, CK Asset grappled with a collapsed deal involving 21 Borrett Road, a luxury project which offered 152 flats and 242 residential car parking spaces. With the deal originally finalised in September of last year, Singapore fund LC Vision Capital 1 was supposed to purchase the development for HK$20.8 billion.
Last week, the wealth manager forfeited the HK$2.08 billion deposit and terminated the deal altogether, making this the largest forfeiture case in Hong Kong’s history.
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