Residential Property
Total investment deals down 16% YoY to $9.1b in Q1 23
Buyers were cautious as the interest hike impacts border reopening.
Total investment deals down 16% YoY to $9.1b in Q1 23
Buyers were cautious as the interest hike impacts border reopening.
Land Dep't distributes ten pre-sale consents in Q1
Eight were for 4,301 residential units.
Compulsory sale applications drop 24% in 2022
But JLL expected a more visible return in the second half of 2023
Gov’t needs to review valuations to ensure success of land sale programme – experts
Colliers estimates Hong Kong land revenue last year only 50% of target.
Property sales rocket 43.8% to 8,599 in March
Total consideration rose 57.2% to $68.9b.
Housing Authority sets new rental rates for housing units
Renters can afford a flat in an urban district for $94.9 per square metre.
Residential market to hop on recovery track: Knight Frank
In February, transactions climbed 40.3% MoM.
Hong Kong amongst cities with most ultra-prime residential sales
Ultra-prime properties are worth at least US$25m.
Residential property prices to rebound by 5%-8% in 2023
S&P Global cited China’s reopening as one of the reasons for its revival.
Heads up tenants: Housing Authority announces rates concession starting April
Domestic tenants will receive $1.176b whilst non-domestic tenants will get $16.6m.
Home sales rise in February
There were 4,282 units sold during the month.
Residential market sales to grow 49% in Q1 2023
It will be backed by China reopening and reduction of AVD.
Measures in place to combat abuse of public housing resources: gov’t
Over 3,000 households have either surrendered their flats or had it confiscated.
Wing Tai Properties braces for loss in FY22
It is expecting a loss of $50.0m.
HK is 3rd leading global city for the wealthy
There are 15,175 UHNW individuals with primary or secondary residence in HK.
Kum Lam Building up for sale via expression of interest
The property’s estimated worth is $230m.
Residential property at Ap Lei Chau for sale at $157m
It is 2.4k-square foot which includes two buildings.
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