A number of real estate companies in Hong Kong are scrambling to sell more houses in mainland China after the mainland government released fresh economic packages for home buyers, the South China Morning Post reported Sunday.
For instance, Sun Hung Kai Properties (HKG:0016) put up for sale 109 apartments at Forest Park in Guangzhou. SHKP set aside 10 units for Hong Kong buyers, the report said.
New World Development's (HKG:0017) Guangzhou projects are outpacing those in other locations due to an easing of home purchase regulations, the report said.
The developments come as mainland China lowered mortgage rates and down payment ratios for second-hand houses to help resuscitate demand, according to the SCMP.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price (HKD): $86.00, Change: $-1.3, Percent Change: -1.55%
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