Residential Property
Hong Kong luxury house prices down 1.5%: Knight Frank
Unsold inventory from new projects placed pressure on the market.
Limited supply hamper growth in HK’s super-prime market
The number of super prime homes sold in HK dropped from 67 to 42 in 2Q23.
Four pairs of six-storey tenement buildings collectively sold for $697m
The property was acquired by the top bidder Ever Great Development Limited.
How will mortgage rate uptick affect HK’s property market
HSBC raised its mortgage rate by 50bps.
Property market slump boosts occupiers’ and home buyers’ bargaining power
Real estate agents said tenants ask for up to 30% discount when renewing office leases.
$550m-luxury property in Mid-Levels East up for sale
The residential building has a saleable area of 13,840 square feet.
More hotels pivot to co-living for better margins, stable cash flow
From 2020 to 1Q23, around 6 to 7 hotels have been acquired for conversion to co-living spaces.
Property sales jump 5.3% MoM in August
Year-on-year sales fell by 11%.
Hong Kong’s most notable real estate agents under 40
Majority of agents in the list are experts on the office market.
High interest rates stall foreign property deals in Hong Kong
Bank mortgage rates for commercial properties in the city can be as high as 6%.
Diversification to shape real estate investments in 2024
An expert said capital will cascade into “alternative” sectors next year.
China Evergrande cuts losses to RMB39.2b in 1H23
The group has implemented several schemes to improve liquidity.
HK, SG housing chiefs exchange views on policies, new technologies
Amongst areas of discussion include green buildings.
Lands Department rejects bid for Tsuen Wan residential site
The site is part of the government’s Starter Homes (SH) project.
Sale of residential units sluggish in the first half of 2023
Only over half of residential units were sold in H1 2023, slower than the five-year average.
Hong Kong introduces one-off subsidy for citizens in transitional housing
As many as 35,000 are expected to benefit from the trial scheme.
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