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More Hong Kong secondary homes sold at a loss in September

At least 100 secondary homes changed hands at a loss in September, with discounts ranging from over 10% to as much as 30%.

Reported · Written up by our desk · Residential

Despite indications that Hong Kong property prices may have bottomed and started rebounding in August, market sources said at least 100 secondary residential homes were sold at a loss in September, up from at least 81 in the prior month, according to SCMP Economy.

The outlet reported that the losses were seen across Hong Kong Island, Kowloon, and the New Territories, covering both luxury and mass market properties.

Agents told SCMP Economy that price gains did not generally extend to the secondary-home segment, even as they estimated Hong Kong home prices could end the year 15.0% higher than a year earlier.

Loss-making transactions in September involved discounts ranging from more than 10.0% to as much as 30.0%, the sources said.

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