New Territories home prices that surged most in Hong Kong’s property boom are falling faster in the downturn

Source: SCMP, Nov 7 Wednesday 

Author: Pearl Liu

As Hong Kong’s property market turns south, homeowners in the New Territories are feeling the pinch more than others, as flat prices in the area have fallen faster and as much as 16 per cent since August.

Among the area’s top five residential estates by price decline based on government data, City One Shatin is leading the pack and recorded the largest drop in the past two months. The average price for 10 transactions completed in October was HK$15,191 per square foot, 9.3 per cent down from September and 15.4 per cent from August, according to data from Ricacorp Properties.

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