Hong Kong developers are raising the prices of their unsold units by as much as 70 per cent in a sign that the world’s hottest property market is a long way from running out of steam.
Kerry Properties has priced a flat at The Bloomsway in Tuen Mun at HK$16.14 million (US$2 million), or HK$18,724 per square foot, up 68 per cent from two years ago, while a 964-square foot unit at K. Wah International’s K. City, in Kai Tak, has increased 13 per cent from when it first went on the market in March 2017.
