Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Richest Man LI Ka-Shing Urgently Sells Properties at 30% Discount, Hong Kong Property Market Doomed?" video.

  1. 🏢 Property prices in China are plummeting, leading developers to offer significant discounts and promotions. 00:00 Developers in Zhuhai are offering 50% off properties, selling at 14,000 to 15,000 yuan per sq. m. A prominent developer in Hangzhou is giving away gold with property purchases, offering an 18% discount. China's Ministry of Housing and Urban-Rural Development is allowing developers to reduce prices to save themselves. 😔 The pre-sale prices for Greenery Gardens in Beijing have decreased by nearly 10% due to the sluggish housing market. 04:21 The initial estimated sale price of units in Greenery Gardens was 100,000 to 110,000 RMB per square meter. The latest approved pre-sale prices range between 90,700 to 99,700 RMB per square meter, representing a nearly 10% decrease from the original estimate. The lower pre-sale prices reflect the current sluggishness in Beijing's housing market, especially the luxury market. ⚠ Hong Kong's continuous interventions to stabilize the Hong Kong dollar may exhaust their resources and lead to a financial crisis, while China's sluggish residential market and downturn in real estate impact premium office spaces in major cities. 08:34 Hong Kong authorities have intervened in the Hong Kong dollar 49 times since May 2022, accumulating purchases of over 290 billion Hong Kong dollars. There is a possibility of a financial crisis in Hong Kong similar to or more severe than the 1997 Asian financial crisis due to continuous interventions, potentially leading to a speculative attack on the Hong Kong dollar. China's underwhelming economic recovery has resulted in a rising vacancy rate in premium office spaces in major cities like Shanghai and Beijing, with companies cutting rental expenses and favoring areas with lower rents.
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