Less fancied developers in Hong Kong are thrown out of the realty market

Less fancied developers in Hong Kong are thrown out of the realty market.

RM | June 29, 2017 | Thurssday


Hong Kong: According to a report by JLL’s Sales marketing report, small and medium sized developers are loosing their cutting edge in the real estate market. Share of residential sites grabbed by the small and medium sized developers have reduced heavily from 48% recorded the previous year. Land system introduced by the government has promoted the work of small and medium developers and has increased their market share to up to 48% in 2016 as compared to 24% in 2011. But the current policies by the government have changed the way system works now.

Strict measures have been taken against the land rules and construction sites. People’s Republic of China developers has been a dominant force in the real estate market and as a result, local developers work is being affected badly.

Henry Monk, Regional director of Capital market of JLL has stated that the small and medium sized developers are suffering because of the people’s republic of China developers and as a result, they might have to look somewhere else for their work other than Hong Kong.


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