New vs old: why new-builds are far outselling used homes in Hong Kong

A clear divide has opened up in Hong Kong’s property market in recent months: sales of new-build homes have surged, but the recovery in the secondary market has remained far more modest. The contrast between the two segments is not a coincidence – and is likely to persist for some time, according to analysts. The trend is largely being driven by developers slashing prices on new-builds to clear their inventories ahead of expected interest rate rises in the coming months. This is making new homes...