Hong Kong developers offering rebates, hidden discounts
They are avoiding price cuts that would signal a downturn has started
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Hong Kong
KOWLOON Development Co's Upper East project in Hong Kong's Hung Hom area is offering a raft of rebates and hidden discounts that can reduce the cost to a buyer by as much as 14 per cent, and it will throw in a second mortgage too.
The enticements are paying off. Since its Sept 5 launch, the company has sold 940 out of 1,008 units. One buyer even snapped up two apartments on the sixth and eighth floors, according to transaction data published on the company's website.
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