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Hong Kong, a city of apartments
The global financial crisis is rapidly expanding into Hong Kong now. Window displays at some real estate agencies in the city advertise heavily reduced properties, last minute reductions and even cash incentives to prospective buyers.
Poon, a property agent for Midland Realty in Hong Kong said “Before September our branch was making two to three million Hong Kong dollars (256,000 to 385,000 US dollars) every month, but now it’s only around 50,000, a 98 percent drop in revenue”.



