Hong Kong’s cheapest residences since 2014 to go on sale in Yuen Lengthy amid falling selling prices

  The Wah On Villa flats certainly are a 15-minute minibus experience clear of the MTR station in Yuen Lengthy. photo: Roy IssaThe Wah On Villa apartments are a 15-minute minibus ride from the MTR station in Yuen Extensive. photograph: Roy Issa

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  Hong Kong’s most economical properties since 2014 have gone on sale - with just one apartment on offer you for HK$958,000 (US$122,322) - in Yuen Extensive during the city’s New Territories.

  person Wai-hong, a member of 1 in the 4 clans in the region, will on Thursday set a few apartments up available in Wah On Villa, a village property progress. The qualities range between 603 sq ft to 746 sq ft in dimensions, and will be available for HK$958,000 to HK$1.sixty two million, in accordance on the development’s web page.

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  Number of takers for latest batch of flats at Hong Kong’s lowest priced residential job this calendar year

  “It is scarce [to see homes bought at fewer than HK$1 million],” claimed Lee Shu-kam, affiliate professor of economics and finance at Hong Kong Shue Yan University. “There are going to be additional [such affordable apartments].”

  Lee stated the emergence of such affordable apartments was right down to the government’s recent housing subsidies, like the Dwelling Ownership Scheme, which was handed very last Friday and may supply households for as low as forty two per cent of marketplace selling price. The plan will develop more possibilities for homebuyers on the lookout for reasonably inexpensive residences, and so the interest in high priced compact apartments will shrink as well as the charges of such properties will even need to trimmed for them to get aggressive.

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