Yuen Long villas cut prices by 25 per cent, becoming the first casualties of Hong Kong’s vacancy tax

Several Hong Kong developers are cutting prices for the first time in three years, slashing as much as 25 per cent off their quotations, becoming the first casualties of the city government’s vacancy tax that was imposed to deter hoarding and boost supply.
Paliburg Holdings and Regal International, two builders behind the Casa Regalia project, have knocked HK$10 million off the price tag of one of their 12 unsold villas in Yuen Long to HK$29.4 million (US$3.74 million). The villas, each…

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