Topic
Latest news and analysis about Hong Kong’s property industry, including sales, market outlook, policies, products and the performance of developers.
As the city government pushes ahead with the Northern Metropolis development, the need to strike an environmental balance has become all the more important.
The Housing Authority will need more money if the Hong Kong government is to meet its accommodation targets for the less well-off.
Relaxed conditions on land exchanges should boost Hong Kong’s Northern Metropolis project and extension of land premium scheme is also welcome.
Redevelopment of Hong Kong’s ageing districts is to be welcomed, but feelings of those who are affected have to be respected.
Finance chief Paul Chan faces unwelcome challenge in trying to balance slumping financial reserves with demands of a city still seeking to recover from Covid-19.
- Commercial premises will need to step up and cover a huge predicted deficit of EV charging stations, the property consultancy says in a report
- Meanwhile the recycling and storage of EV batteries may spur demand for industrial and warehouse space
Of the 30 cities monitored in the Savills World Prime Residential Index, 17 will see price declines, with Hong Kong projected to see the highest drop of up to 10 per cent and as much as 3.9 per cent in Singapore.
City leader John Lee says government has adopted risk-based approach in tackling problem, but dodged question on inspecting all upmarket detached houses.
Having paid a high price for their property, some homeowners have every incentive to build unauthorised additions for their houses knowing enforcement can be lax.
The church has secured several floors at the property at 413-423 King’s Road as its ‘future permanent home in Hong Kong’, it said in a statement on its website.
Hong Kong and mainland Chinese banks are preparing for a new cross-border payment regime that will make it easier for Hong Kong and Macau homebuyers to transfer the funds they need to purchase property in the Greater Bay Area.
Unauthorised expansions to luxury homes across the city have triggered concerns over safety risks, unfairness and lax enforcement.
Cash-strapped owners are taking out loans with rates of up to 29 per cent, with luxury properties in areas like The Peak and Repulse Bay as collateral.
Property deals in Hong Kong surged in January to their highest since August on stepped-up buying amid expectations of stable interest rates and hopes that a government residency scheme will draw more investments into the sector.
Kai Tak a draw for buyers of subsidised flats because of good transport links and views across Victoria Harbour and sports park.
Housing Authority says reclaimed flats came from the first batch of about 88,000 tenants who made declarations about whether they owned residential property.
Hong Kong developer Hang Lung named Adriel Chan to succeed his father Ronnie Chan as its chairman, at a time when the real estate market is coming under more pressure and home prices are at a seven-year low.
Development minister Bernadette Linn says authorities considering outsourcing part of project to private developers as way to reduce financial burden on government.
Hong Kong’s lived-in home prices fell by about 1.4 per cent, the eight straight monthly decline. Overall, prices fell 6.7 per cent in 2023, versus a much sharper slump than the 15 per cent decline a year earlier.
While a number of factors beyond Hong Kong’s borders are affecting its property market, another price war brought on by new residential projects will also impact any recovery, says JLL Chairman Joseph Tsang.
The F&B sector, which contributed nearly half of Hong Kong’s retail leasing demand last year driven by new Chinese restaurants, will continue to be the biggest source of demand in 2024 as well, according to CBRE.
Triangular site between International Financial Centre and Central Ferry Pier No 7 in Central among locations being considered for new museum, government source says.
Hong Kong’s industrial property segment is seeing a pick up in demand, with the likes of Microsoft committing to long-term leases for data centre facilities, property consultancy JLL said.
Franklin Templeton, which has leased 21,700 sq ft on the 62nd floor of Two IFC, will shift from its present premises in Chater House. Last week, China Re leased 6,740 sq ft in the 88-storey tower.
Development officials lay out details of funding appeal at Legislative Council for 263-hectare second phase of Hung Shui Kiu-Ha Tsuen project.
Political figures step up calls to scrap ‘outdated’ property market measures to boost economy and ease residents’ anxiety.
The two-storey, 11,687 sq ft detached house on Lugard Road went on sale in October and was valued at HK$1.3 billion (US$166 million).
Housing minister Winnie Ho says talks under way to set up permanent investigation system, months after crackdown on cheats launched last October
Hong Kong’s luxury property segment is showing signs of a revival, with mainland buyers returning to the market. Analysts expect developers to ramp up supply amid increasing demand and lower rates ahead.
Buildings Department announced probe shortly after a concern group alleged problematic construction practices at the site.
State-owned reinsurance company China Re Asset Management is moving to the 41st floor of Hong Kong’s Two International Finance Centre in Central, where it has leased 6,740 sq ft for the same price it paid for its previous offices in Three Exchange Square.
