Hong Kong's Big Estates Post 32% Slump in Weekend Transactions [BNN Bloomberg (Canada)]
Colliers International Group Inc. - Subordinate Voting Shares (CIGI)
Last colliers international group inc. - subordinate voting shares earnings: 4/28 07:00 am
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Source: BNN Bloomberg
The 10 biggest residential estates posted 19 transactions over the weekend, a 32% slump from a week ago, according to a Centaline Property Agency report. It's the second drop in a row, despite a short spike after the government scrapped property taxes last month to boost sales. Existing home transactions are coming under pressure as they compete with new offers, and buyers remain deterred by high interest rates. Hong Kong developers have been selling new homes at low prices to clear an abundant supply. Wheelock Properties Ltd. unloaded 368 apartments in its Seasons Place project, the company said on Saturday. The initial price of HK$14,188 ($1,814)per square foot for the first batch of 130 units was the cheapest for sales of the same type in the area since mid-2019 and 8% lower than secondary units in the neighborhood. The property industry will remain under pressure, especially as prices continue to drop despite the curb lifts. Colliers International Group Inc. expects the sit
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CIGI
Earnings
- 2/8/24 - Beat
CIGI
Sec Filings
- 4/10/24 - Form 6-K
- 4/2/24 - Form 6-K
- 3/26/24 - Form 144
- CIGI's page on the SEC website