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Hong Kong’s Veteran Property Investors Head For The Exit Amid Fears Of A Deep And Prolonged Correction In Prices | South China Morning Post

by scmp.com posted 6days ago 80 views
Veteran investors in Hong Kong property, anticipating a deeper correction in prices amid dwindling buying activity, the coronavirus pandemic and worsening US-China relations, are rapidly cashing out of their holdings.Albert Wong Kam-hong, the former deputy chairman of real estate company Midland Holdings, for instance, sold his adjoining flats in The Coronation Tower near Kowloon Station for HK$22 million (US$2.8 million) last month. The 1,206 sq ft property, which he had bought eight years ago…

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