Investors looking for fire sales however will be disappointed, as analysts say prices are unlikely to crash the way they did in the recession after the global financial crisis in 2009, provided unemployment remains stable, South China Morning Post reported on April 12.
Schools and most workplaces have been shut. Show flat viewings have been postponed; fear of getting sick has prompted potential buyers to stay home. Luxury home sales plummeted 89% to 45 units in March, from 412 in February in the absence of rich buyers from China who have propped up the top end of the market.Foreign buyers acquired an estimated 20% share of non-landed private properties in 2019.
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