R6 SCMP Presale Issues Dec 1 2005

R6 SCMP Presale Issues Dec 1 2005 - Wednesday HONG KONG...

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Wednesday, November 30, 2005 HONG KONG Presales put on hold as market goes quiet SANDY LI Prev. Story | Next Story -------------------------------------------------------------------------------- Developers are expected to delay presales of new residential projects for at least three months because of a subdued market. Most developers had achieved better than expected sales results this year and were not in a hurry to launch new projects, analysts said. Over the past year, developers have offered new projects at up to 40 per cent above transacted prices in the secondary market, compared with 10 per cent to 20 per cent previously. Rather than cutting prices to attract sales, developers were offering additional sweeteners, market watchers said. Matthew Chow, an analyst at China Everbright Research, said developers were not likely to continue their resistance to lowering the asking prices for new flats for much longer. "They are likely to feel the pressure to adjust their pricing strategies downwards, probably during the Lunar New Year in January," he said.
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  • Spring '09
  • Tse
  • New Year, Land developers in Hong Kong, SANDY LI Prev, HONG KONG Presales, new residential projects, BNP Paribas Peregrine

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