Steeper discounts and an array of tax incentives being offered by developers have drawn mainland buyers back to Hong Kong’s western New Territories, as the price premium of Hong Kong over Shenzhen continues to narrow. Flooded with new supply, new home prices in Yuen Long fell as much as 6 per cent in the past two weeks, which in turn negatively affected the secondary residential market. Hit by developers’ low-price strategy, secondary transaction prices dropped faster than the primary market with Yoho Town, a major housing estate...
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