This is Hong Kong, and greed is everywhere. People scare of not having chance to buy house again or looking for quick money to chase after the crazy soaring price growth.
Usually there are two cases, 1) people got cheated by agent and over estimated their ability to get loan from bank. So if they got a smaller loan or rejected by bank, they have no choice and no budget but to lose their money. 2) Sometime it’s just the buyer want to switch to another unit and in record the deal was not proceeded but in fact the developer just move their deposit to another deal. This is Hong Kong, and greed is everywhere. People scare of not having chance to buy house again or looking for quick money to chase after the crazy soaring price growth.
Usually there ...
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