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PROSPECTIVE BUYERS AND PROPERTY AGENTS LINE UP OUTSIDE CUT PRICE RESIDENCE, 1998-09-11 (photo)

IMAGE number
REU8198854
Image title
PROSPECTIVE BUYERS AND PROPERTY AGENTS LINE UP OUTSIDE CUT PRICE RESIDENCE, 1998-09-11 (photo)
Auto-translated text View Original Source
Medium
photograph
Date
1998 AD (C20th AD)
Shooting Date
1998-09-11
Image description

Prospective buyers and property agents line up outside a cut price residential property in Hong Kong September 11. Hong Kong's cash-strapped property developers are slashing prices and dangling attractive bait to lure buyers as the recession dries up bank lending. Sales of residential and non-residential properties reported to Hong Kong's Land Registry in August fell 53.4 percent from year earlier levels to 7,127 transactions. The deals were valued at HK$20.6 billion, down 68 percent from year-ago levels. LC/JO/

Photo credit
REUTERS / Bridgeman Images
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