Hong Kong land tender fails in property market setback


FROM Hong Kong in the Far East to New York the epicentre of US coronavirus outbreak, where buyers pay top dollar for real estate, the pandemic has upended the property sector of both destinations and others in between.

A plot of land at Hong Kong’s former Kai Tak airport has failed to sell at auction in a sign the city’s worsening economic crisis is starting to take its toll on the property market.

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