Hong Kong homebuyers flock to new projects

Good deal: Hong Kong’s skyline is lit up in the background as seen from Tamar Park in front Victoria Harbour. Homebuyers are more interested in the primary market as developers can offer financing plans with discounts, say experts. — AFP

HONG KONG: Homebuyers are snapping up new Hong Kong properties after the government cut taxes last month.

Following the removal of property levies, developers have sped up project launches and set competitive prices to capture the increased demand.