Offering 4% below asking on a new-build flat in Hong Kong

[XaviReed]

I can either make a cautious opening offer and risk looking unserious, or stay close to asking without enough completed-sale evidence. I am a first-time buyer considering a four-bed new-build flat in Hong Kong listed at HK$3,159,000. It has been on the market for 81 days and appears to require some updating. Similar nearby listings do not tell me what buyers have actually paid.

My current thought is to start 4% lower, supported by confirmed financing and flexibility over completion. I am not looking to renegotiate over cosmetic items, but I do want cover for costly defects, a valuation shortfall and financing failure.

How would you present that offer without putting the seller on the defensive? I would also like views on a sensible response deadline and on which inspection, finance and appraisal protections should not be traded away.

 

[KitSage]

Four per cent below does not sound inherently antagonistic after 81 days. Keep the explanation short: uncertainty around completed comparables, the condition of the flat, and your ability to proceed with financing evidence and a flexible date. Give the offer a reasonable response deadline rather than leaving it open-ended.

I would retain inspection protection and wording covering financing and any appraisal gap. What does “needs updating” mean on a new-build, and do you know whether the seller values price or speed more?

 

[ellis_meadow]

I would be cautious about leaning too heavily on the 81 days. It may indicate seller motivation, but it does not prove the price is high, and comparable asking prices are weak evidence until something actually completes.

Rather than requesting credits for every item, use the inspection to identify only costly defects and decide in advance what would justify renegotiating or walking away. Also clarify when the deposit becomes exposed if financing or valuation falls short. The exact wording and consequences can be specific to Hong Kong, so have the proposed terms examined before signing.