Bargain sale, collapsed deal reflect Hong Kong’s struggling retail property market

A foreclosure sale in Hong Kong’s Lan Kwai Fong area and a cancelled shop transaction in North Point reflect the impact of weak consumer spending on Hong Kong’s retail property market, which will remain under pressure through the end of the year, according to analysts. The Lan Kwai Fong property, home of well-known bar Insomnia until it closed in 2024, recently changed hands for 60 per cent less than its value in a 2015 sale. Meanwhile, the deal for the large street shop on King’s Road in North...