Hong Kong small multifamily: is condition behind the 7.1% movement?

G

gardensAndCorner

Buyer
Established
Before I can make sense of the numbers, I need a much tighter comparison area than Hong Kong as a whole. I am tracking small multifamily listings from HK$3,370,000 to HK$5,054,000, alongside reported downward movement of 7.1% and an average marketing period of roughly 95 days.

Buildings with obvious maintenance needs seem to receive bigger cuts, but grouping them together creates a risk: condition may be standing in for seller urgency, buyer-financing problems or a local increase in new listings. It also matters whether the first reduction comes early or only after a property has sat for months.

Could anyone narrow this to a named neighbourhood and a consistent building type? I would compare the original ask, timing of each cut, any withdrawal or relisting, and the completed price. That should show whether the 7.1% appears in actual sales or mainly reflects changes to advertised stock.
 
Condition could explain some of it, but Hong Kong as a single area is too broad for that conclusion. Neighbourhood boundaries and the exact property type need to be fixed before comparing discounts. Also, does the 95-day figure cover only active listings, or does it include withdrawn stock? Withdrawals can make the remaining listings look healthier than the full picture.
 
I’m not convinced maintenance is necessarily the main driver. A poorly maintained property may simply belong to a more motivated seller, while a larger discount could also reflect buyer-financing difficulty. I’d compare when the first price cut happens, whether the listing is later withdrawn, and the final completed price. Otherwise condition and seller motivation are being bundled together.
 
That’s fair. The missing distinction is between visible condition and the reason a seller accepts less. A useful comparison would separate unchanged listings, early price cuts, late price cuts and withdrawals, then note condition within each group. Diego, what period does the 7.1% movement cover, and what is its baseline?
 
I’d narrow the sample before interpreting either number: one named neighbourhood, one clearly defined small-multifamily type and the stated price range. Then track original asking price, cut dates, days listed, withdrawal or completion, and disclosed maintenance issues. Recent completed sales should carry more weight than current asking prices. If financing or seller motivation is unknown, leave it unknown rather than using condition as a substitute.
 
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