Don Lyons

Supply of office space set to ease

The supply of grade-A office space is expected to slacken substantially in the next few years after a glut of new space in the past couple of years.

Wednesday, 16 June, 1999, 12:00am

Luxury deals slide 20pc

Transactions in the second-hand luxury sector have dropped by at least 20 per cent this month compared with last month, according to property agents.

They attributed the drop to the release of primary projects such as the Waterfront at Kowloon Station and The Belcher's in Pokfulam.

28 May 1999 - 12:00am

London property allure grows as yields rise and mortage costs dive

WITH the cost of mortgage money in Britain at less than 5 per cent and estate agents promising yields of 10 per cent on rental properties, Hong Kong investors might want to consider a second-hand property in London, an investment consultant says.

11 Apr 1999 - 12:00am

Buyers revel in price war

Second-hand home sales have increased as much as 35 per cent last month as a mortgage price war and other incentives encourage buyers, according to property agents.

However, most flats changing hands were valued at $3 million or less and prices had barely moved, rising by 2 per cent at most, they said.

1 Apr 1999 - 12:00am

Guoco Land dips into red territory

Guoco Land, which is 53.04 per cent owned by Guoco Group, reported a net loss of $105.37 million in the six months to December 31, compared with a profit the previous year of $29.73 million.

Exceptional losses of $75.01 million were recorded mainly because of a $72 million provision against the decline in value of more than 400 car parking spaces at South Horizons.

19 Mar 1999 - 12:00am

Economy hits rent levels of serviced apartments

Rents for serviced apartments have fallen by as much as 40 per cent since the height of the market in 1997, according to a recent survey from Chesterton Petty.

The top-end prices range between $50,000 and $120,000 per month, a fall of 15 to 30 per cent since 1997, according to the report.

24 Feb 1999 - 12:00am

Stanley homes key test for luxury sector

Three houses in Stanley will be sold next month in a key test of sentiment for the luxury sector.

The houses, measuring 4,000 to 4,500 square feet, are expected to fetch at least $25 million each.

Agent Jones Lang Wootton will handle the tender sale.

11 Feb 1999 - 12:00am

'Lucky' push fails to pull in home buyers

Henderson Land's attempt to sell 88 'lucky' units in the second phase of its Metro City development in Tseung Kwan O over the weekend fell flat with buyers staying away.

Less than 200 people turned up on Saturday and fewer still arrived on Sunday, agents said.

'Sales over the weekend were not satisfying,' said one property agent who requested anonymity.

1 Feb 1999 - 12:00am

No rush for legal action expected after compliance certificate fiasco

Legal experts in the Planning, Environment and Lands Bureau say they do not anticipate a spate of legal actions following a Court of Final Appeal ruling which quashed a flat sale because the vendor could not produce a certificate of compliance for the property.

1 Jan 1999 - 12:00am

Dream house fetches $250m

A mystery buyer yesterday paid $250 million for the so-called Dream House at 37 Deep Water Bay Road on the south side of Hong Kong Island.

The house, built by National Electronics Holdings, has a gross floor area of 16,148 square feet and fetched $15,481 per square foot, according to property agents familiar with the deal.

9 Dec 1998 - 12:00am

Rate cut buoys second-hand market mood

Transacted prices in the second-hand property market have increased on average between 3 and 8 per cent since the middle of the month when the Government cut the prime rate 0.25 per cent, according to property agents.

28 Oct 1998 - 12:00am

Grade A floor price approaches decade low

Property agents said the sale of an entire floor in the Bank of America Tower in Admiralty for $3,750 per square foot heralded a further correction in grade A office prices.

They said they were stunned by the price, which was as much as 25 per cent below expectations.

The ninth floor, measuring 13,880 square feet, was sold by tender.

23 Oct 1998 - 12:00am

Paliburg increases Park Royale price

Paliburg Group has marginally increased the average sale price of 60 new flats in its Park Royale development in Yuen Long by $7 per square foot to $2,495 per square foot.

The move follows the successful sale of an estimated 80 per cent of 130 units between Thursday and Monday.

The 104 flats sold for an average $2,488 per square foot, a spokesman said.

26 Aug 1998 - 12:00am

Northeast Electrical gains flat

Net profit for H share Northeast Electrical Transmission & Transformation Machinery Manufacturing was 36.51 million yuan (about HK$33.97 million) in the six months to June 30 after posting 36.32 million yuan for the same period last year.

Earnings per share increased to 4.18 fen compared with 4.16 fen last year.

24 Aug 1998 - 12:00am

Europe's finest form worldwide practice

Five of Europe's largest law firms have banded together to form what they claim will be Europe's largest full-service global legal practice called Linklaters & Alliance.

24 Jul 1998 - 12:00am