Houses on The Peak, Hong Kong’s most desired residential address. -- Photo: Roy Issa
HONG KONG (SCMP): Hong Kong elites lost billions in property deals in 2024, as wealthy individuals facing liquidity challenges in a high-interest rate environment and soft economy offloaded their assets at fire-sale prices.
Notable sellers included Chen Zhuolin, the chairman of distressed mainland Chinese developer Agile Group, who lost US$16 million in November.
