Retail properties offloaded for losses in weak market as revaluations spark bank concerns
Several retail properties sold recently by prominent Hong Kong investors have been offloaded at a loss – a trend analysts attributed to banks maintaining a tough stance on debt collection.
Stanley Poon Chi-ming, managing director at Centaline Commercial, said retail property prices had fallen by 30 to 70 per cent from their 2018 peaks.
That meant any sales in the current market – especially of properties bought around a decade ago – would essentially result in a loss.
“Many retail property...
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