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The Guardian - AU
The Guardian - AU
World
Sum Lok-kei in Hong Kong

Hong Kong land sales wobble, exposing cracks in city’s finances

Hong Kong Terence Chong Taileung Paul Chan Mopo
Aerial shot of housing estate in Hong Kong
Economists say the trend in Hong Kong, where land sales are dropping, presages a wider downturn Photograph: Dale de la Rey/AFP/Getty Images

Hong Kong’s once-lucrative land market looks to be in trouble after a series of unsuccessful tenders for government plots cast a shadow over the city’s finances.

Earlier this month, Hong Kong’s largest public transport company, the MTR Corporation, revealed that it had received no proposals for a joint development project in Tung Chung, a residential town next to Hong Kong airport.

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