Steady as she grows
Hong Kong takes another step towards a healthier real estate market, thanks to the government living up to its promise of increasing land supply in an orderly fashion, with Financial Secretary John Tsang planning to announce sites for auction every quarter. Property prices have steadily gone up since the government's stabilising measures last November. Prices have overtaken 1997 levels, according to some reports. Though Tsang admits there is no more short-term speculation, he insists he will act again if things get out of hand. The reality is that, at present, Hong Kong is enjoying strong economic growth partly thanks to the mainland's sound performance. There is also solid demand from internal and external buyers. That is why, even as the interest rate cycle may be turning, prices have held up well in most districts, while record deals are regularly reported in the more exclusive locations.
In this issue of LuxeHomes, the cover story takes stock by reviewing and analysing drivers for the property market. As spring arrives, we have a story suggesting ways to prepare your home and garden for a potentially powerful typhoon season. With tips on precautionary measures, hopefully you will have enough time to work on protecting your home before the first typhoon arrives. We then take you to Singapore to see how its property market is doing after cooling measures adopted by its government last year. In our special report, seasoned car writer William Wadsworth surveys the latest models from the world of luxury motors, ranging from Bentleys to BMWs, and assesses how they suit Hong Kong's homes and roads. He also offers suggestions on such useful areas as parking and how to make your car look its best.