Are buyers negotiating more after 58 days on the Hong Kong market?

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XaviReed

Property investor
Established
The Hong Kong market looks split rather than uniformly fast or slow. I’m looking at villas advertised around HK$7,238,000–HK$10,860,000, with roughly 58 days on market. Homes where the vacancy position is clear seem to move differently.

Would 58 days now justify a firmer opening offer, or is that still too little information? I’d particularly value recent completed-sale examples where the final price can be compared with the public asking history.
 
Fifty-eight days by itself would not make me assume a large discount. I’d first separate genuinely available homes from withdrawn and relisted stock, then note when any price cut occurred. A seller who cut last week may be less flexible than one who has held the same price throughout but now needs certainty.
 
Which neighbourhood boundaries are you using, and what counts as a villa in this comparison? That price band could still contain properties with very different condition and financing appeal. I’d also distinguish vacant homes from those where the occupancy position is merely unclear; those are not necessarily the same signal.
 
Gabriel’s point matters because a broad 58-day average can hide two opposite markets. Renovation needs may slow one listing, while another sits because the seller is testing an ambitious price. Without matching location, condition and vacancy status, days on market says little about negotiating room.
 
One caveat to Karim’s relisting test: public asking histories are useful but incomplete. A missing listing does not prove it was withdrawn for lack of interest, and the last visible asking price may not be the price actually discussed. I would treat the history as a prompt for questions, not as proof of the seller’s minimum.
 
A practical comparison sheet could include first asking price, latest asking price, date of each cut, total visible days, any gap before relisting, condition, vacancy position and financing constraints. Then add the completed price only where it can be supported. Even a small set of closely comparable sales would be more useful than one market-wide discount figure.
 
That helps. I don’t yet have reliable completed examples, which is why I was hesitant to infer too much from the 58 days. I’ll narrow the search by neighbourhood boundary and condition, and separate continuously listed villas from anything that disappeared and returned. I’ll also ask directly about vacancy and seller timing before deciding how firm an opening offer should be.
 
Also watch new-listing volume alongside withdrawn stock. If older villas are disappearing but few comparable homes are replacing them, buyers may have less leverage than the days-on-market figure suggests. If similar new listings keep arriving while the same properties remain available through price cuts, a lower offer has a stronger basis. Seller motivation still decides whether that basis turns into an accepted price.
 
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