30% of owners looking to sell Hong Kong luxury homes willing to lower prices: agents
Celebrities including Chow Yun-fat, Stephen Fung Tak-lun and William Chan Wai-ting slashed prices before selling luxury properties recently, with property agents saying secondary luxury home trading will continue to slow in the short term, with prices up to 10 per cent lower. The asking price for Hong Kong film star Chow’s detached house at Sunshine Villa, 48 Mount Kellett Road, The Peak, was cut…
A significant number of Hong Kong luxury home owners are considering lowering their selling prices, according to property agents. The owners, including celebrities such as Chow Yun-fat, Stephen Fung, and William Chan, have already slashed their prices before selling. Centaline Property's senior principal district sales director, Joseph Yan, noted that 30% of owners listing luxury homes in The Peak and Southern districts are willing to reduce their asking prices by about 10%.
Another 20% of secondary owners are open to discussing further price adjustments. John Fong, Midland Realty's chief district sales director, observed a 83% decline in secondary luxury home transactions in The Peak and Southern district from June to July, with some sellers broadening their negotiation scope to 3% to 5%.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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