Hong Kong’s pre-owned home sales dry up, forcing many owners to settle for losses as capital shifts to new abodes

The prices of pre-owned homes in Hong Kong have came off their 10-month peak in June, as buyers shifted their attention to newly launched projects amid social-distancing measures during the city’s coronavirus relapse, forcing some desperate sellers to unload their lived-in property at losses.Five flats changed hands across 10 major housing estates in the city on Saturday and Sunday, the lowest weekend transaction rate in six months, according to data by Midland Realty, which operates one of…

from South China Morning Post https://www.scmp.com/business/article/3095945/hong-kongs-pre-owned-home-sales-dry-forcing-many-owners-settle-losses