Real estate investors looking to snap up a property in Hong Kong can expect discounts to remain a trend for some time to come, according to Martin Cubbon, CEO of Swire Properties.
"The discounting will continue, and it will continue for as long as the margins justify it. Right now, the margins are still pretty good for developers and therefore to stimulate demand at a time when government is suppressing demand with its duties is not unnatural," Cubbon told CNBC on Monday.
"There's an expectation in the market place that you need to [offer discounts], and it's quite hard to wean people off it, so I think will mean it will stay for a while," he added. Swire Properties owns and operates mixed-use commercial properties in Hong Kong and Mainland China.
Hong Kong is one of the most expensive property markets in the world, with prices more than doubling since 2008, propelled by low interest rates and tight supply in the market.