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  Sunlight Hung Kai cuts new flat rates all over again as Hong Kong builders confront headwinds

  SHKp is giving 119 models for the Cullinan West II at regular prices about 10 for each cent decrease than a past batch put on sale final December. picture: Edward WongSHKp is supplying 119 units at the Cullinan West II at ordinary price ranges about ten per cent reduce than the usual previous batch placed on sale last December. Image: Edward Wong

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  Sun Hung Kai, Hong Kong’s biggest house developer, has minimize the costs of houses at among its projects by as much as ten for each cent, the next time in a lot less than a thirty day period it's taken this kind of action in the hottest sign the residence industry could be cooling down.

  The corporate is providing 119 units at its Cullinan West II improvement atop Nam Cheong MTR station in Kowloon at a mean price of HK$23,893 (US$3,044) per sq. foot following bargains, about 10 per cent decrease when compared to the prices of the preceding batch put on sale previous December.

  SHKp may well experience HK$200 million vacancy tax bill for Victoria Harbour flats

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  Other builders are very likely to stick to Sunshine Hung Kai, analysts explained, offered a subdued outlook with the sector as curiosity rates rise, the US-China trade war brings uncertainties, stock markets wrestle and Hong Kong authorities measures to cool price ranges commence to bite.

  “The overall downbeat sentiment is still getting a toll available on the market,” said Derek Chan, head of research at Ricacorp Homes. “Developers are worried that they are not able to unload their houses with headwinds forward.”

  Most new household jobs in Hong Kong prior to now 6 months are priced at larger than these of lived-in properties, and developers have been equipped to improve selling prices with each individual new batch of the job for the reason that of powerful need. On the other hand all those situations could be coming to an conclude.

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