Coronavirus, economic slump force mainland Chinese owners to dump their luxury Hong Kong properties at steep losses

Some heavily indebted mainlanders have been forced to sell their luxury apartments in Hong Kong at huge losses or discounts, as the economic slump at home takes a toll and a fresh wave of coronavirus makes them question the wisdom of holding on to the assets in the city.At least 10 transactions – nine residential properties and one parking space – have incurred big losses, of up to HK$8.2 million (US$1.06 million), or been sold with steep discounts since the second half of July, according to…

from South China Morning Post https://www.scmp.com/business/money/wealth/article/3097714/coronavirus-economic-slump-force-mainland-chinese-owners-dump