Real estate agents across Hong Kong may be slashing their prices as the outlook for home prices remains bleak. But at least someone is bullish in the Year of the Ox.
Sun Hung Kai, the city's biggest developer, yesterday said underlying profit for the second half of last year fell 27 per cent after many Hong Kong investors stopped their favourite hobby – buying flats.
The decline was bigger than expected. Nevertheless, Sun Hung Kai appeared to say it was all media scaremongering.
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