With the massive impact of the pro-democracy protest in late September, Hong Kong has seen some shops in affected areas temporarily shut down due to poor business affecting their daily operations. Read on for real estate agent Letizia Casalino of Hong Kong Sotheby’s International Realty for tips on New Year deals to be had.
By taking over the main streets, the protest has also affected the daily revenue of real estate companies, with sellers wanting to “wait and see” the true effect of this unusual situation. For those wanting to avoid the risk of waiting for the uncertain future to unfold, owners have reduced their asking prices by 10 to 15 percent, or even more depending on the location of the premises.
However the pro-democracy protest was not the only factor affecting sales prices in the Hong Kong market. New developments in the New Territories, far removed from the centre of protest action, have sold units for less than HK$2 million, an exceptionally low price for Hong Kong first-hand properties. This could be a sign of a reduction in market confidence across the board, though it’s difficult to suggest the political situation is to blame. Smaller units have seen a sharp upturn, which has led to even larger developers converting their large-unit condo projects into complexes of predominantly small units.
The market rides the upswings and downturns as any other day and remains a hot topic to keep your eye on.
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Click through the gallery for snaps of these recently reduced properties available in Hong Kong
Prestigious Duplex
District: Mid-levels Central
Rent: $137,800 (excl.)
Size: 1,799 sq. ft
Bedrooms: 3 (1 ensuite)
Bathrooms: 2.5
ID # 131733
Recently renovated with an upgraded kitchen, this apartment has a living room with floor-to-ceiling windows, and a master bedroom located on the upper level.
Perfect Panoramas
District: Sai Kung
Rent: $68K (incl)
Size: 1,502 sq. ft
Bedrooms: 4 (1 ensuite)
Bathrooms: 2.5
ID # 51855
Every room of this recently renovated house has views to greenery and the sea, and new features and appliances are stylish and high quality.
Total Makeover
District: Mid-Levels West
Rent: $65K (incl.)
Size: 1,509 sq. ft
Bedrooms: 2 (1 ensuite)
Bathrooms: 2
ID # 54711
Totally renovated, this unit is set in greenery but in a convenient location. There’s plenty of internal space and a good-sized outdoor space. It features a fully upgraded kitchen, bathrooms and walk-in closet.
Luxurious Views
District: Sai Kung
Rent: $62K (incl.)
Size: 2,100 sq. ft
Bedrooms: 4 (3 ensuite)
Bathrooms: 4.5
ID # 103503
This beautiful, newly renovated house in Sai Kung has a well-appointed open kitchen featuring high-end appliances, and a modern guest bathroom with rain-shower.
Perfect Family Home
District: Discovery Bay
Sale: $19.9M
Size: 1,183
Bedrooms: 3 (1 ensuite)
Bathrooms: 2
ID # 13659
Make it your own home! This three-bedroom detached house offers privacy and loads of outdoor space; it was renovated several years ago and has great potential for further renovation. It’s conveniently located along the ocean promenade.
