The Hong Kong residential property market is on the rise with housing sites fetching high prices in recent land auctions and individual residential developments registering record high transactions, Colliers International Hong Kong (CIH) has reported. But a slowdown in residential sales activity over the past quarter revealed a growing uncertainty in the market. Ricky Poon, CIH’s executive director of...
Hong Kong Property
Hong Kong-listed developer Sun Hung Kai Properties bought a rare luxury residential site for HK$4.49 billion (S$708 million) in a hotly contested government land auction on Thursday. The price was at the upper end of market expectations, suggesting the impact of the government's property tightening measures remains limited due to shortage in the supply of prime land. The winning bid at the second public...
Hong Kong home sales fell to the lowest volume in more than two years last month as government curbs and rising mortgage rates sapped demand after a price surge since 2009. The number of units that changed hands last month declined 37.6 per cent from a year earlier to 7,635, according to The Land Registry. That is the lowest since March 2009, according to data compiled by Bloomberg. The value of...
Effective 1 May, real estate agencies in Hong Kong could have their licenses permanently revoked if they violate new regulations on the sales of primary residential properties, according to the Estate Agents Authority. The authority has updated its guidelines for property sales in order to prevent the recurrence of cases similar to The Icon scandal. According to the latest regulations, sales agencies are...
European companies in China ranked Shanghai as the most attractive city to locate their Asia-Pacific headquarters as the Chinese city provides companies with direct access to the region's biggest market, a survey showed yesterday. Hong Kong and Singapore ranked the second and third most preferred locations out of 15 cities examined in the survey, which was conducted by the European Union Chamber of...
Singapore and Hong Kong have topped the global house price index, as home values in both countries recorded the highest increase. Based on The Economist’s latest quarterly global house price index, home prices in Hong Kong climbed 20.1 percent in Q4 2010, while house prices in Singapore rose 17.6 percent. Home values increased 6.4 percent in China, 5.8 percent in Australia and dropped 3.6 percent in...
Hong Kong is the world's most expensive place to purchase a home because of a shortage of properties on the market, according to a study of four of the world's top cities by real estate consultancy Savills. Hong Kong is 55 per cent more expensive than London, based on an index published on Friday by Savills that compares the UK capital with the other cities. Moscow is 7.4 per cent more expensive than...
Prices for luxury residential property in Hong Kong are likely to fall over the next quarter as investors turn to commercial properties after the government imposed harsh measures to cool the housing market, industry executives said. Hong Kong, which has some of the most expensive apartments in Asia and is home to property tycoons such as Li Ka-shing and Lee Shau-kee, has seen luxury home prices exceed...
According to property investment house Pacific Star Group, Singapore and Hong Kong are Asia’s most attractive markets for real estate investment. Pacific Star ranked 11 markets in Asia based on several factors including economic outlook, expected total returns, projected property vacancy rates, ease of doing business and socio-political stability. It found that Singapore and Hong Kong got the highest...
Hong Kong's property market is facing fresh controversy in the aftermath of the government's new stamp duty aimed at curbing speculation. After a series of aggressive analyst forecasts for property prices in the next two years, it appeared as if the government was spurred into action. But it seems to have pleased no one with its 15 per cent stamp duty on all properties bought and sold within six...