Jittery buyers back off HK flat dealsBusiness | 25 May 2020 3:31 pm
Hong Kong homebuyers are backing out of deals amid fears of a price slump sparked by Beijing's introduction of the new national security law in the city.
K. Wah International (0173) recorded nine cases of forfeited deposits at Solaria in Tai Po totaling around HK$11.83 million. The nine flats measure between 325 square feet and 597 sq ft and are offered at HK$6.28-10.92 million.
Meanwhile, a prospective homebuyer forfeited a deposit of about HK$380,000 after calling off the purchase of a 327-sq-ft flat at The Vertex in Cheung Sha Wan, which was offered at HK$7.69 million, and another buyer gave up a deposit of about HK$460,000 after canceling the purchase of a 484-sq-ft flat at Seaside Sonata in Sham Shui Po which was priced at HK$9.13 million.