Hong Kong’s top developer sells out homes in hours as rates fall

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Hong Kong’s top developer sells out homes in hours as rates fall
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In texts referenced in Baldoni's suit, Lively appears to refer to the 35-year-old Grammy winner and Ryan Reynolds as her dragons'.

HONG KONG : Hong Kong ’s biggest property developer Sun Hung Kai Properties Ltd sold out the first batch of homes for a new project within hours, as the lowest mortgage rates in more than two years lured buyers.

A drop in interest rates is helping the city’s residential sales, which saw an unprecedented downturn in the past few years. The one-month Hong Kong Interbank Offered Rate is hovering at 1.3%, the lowest since August 2022. The city’s effective mortgage rate linked to Hibor has dropped to 2.87%, the lowest in more than two years, according to mReferral Mortgage Brokerage Services.

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