We want to buy a new property in HK which the agent tells us is priced at HK$ 2.15 million. HSBC bank have valued it at between HK$1.5 and 1.8 million. Is it normal to have such a large difference and if so, what would be a reasonable offer. The agent has indicated that it won't move below HK$2.05 million but we're not sure if this is just a bluff.
Any insight would be appreciated.