Home sales

Business Digest, December 31, 2012

The Reach in Yuen Long

China's largest land-based oil and gas drilling rigs maker Honghua Group is aiming for sales of at least 10 billion yuan (HK$12.2 billion) next year. 

Monday, 31 December, 2012, 4:58am

SHKP trims luxuries at top end of town

SHKP, developer of The Wings residential project, is cutting back on "super luxury" features in its developments. Photo: Edward Wong

Sun Hung Kai Properties, Hong Kong's largest developer, will cut the number of "super luxury" features in its new projects as cashed-up buyers retreat following the introduction of the anti-speculation tax in late October.

28 Dec 2012 - 4:14am

Cheung Kong eyes bumper property sales in 2013

Justin Chiu Kwok-hung criticised analysts' One West Kowloon sales forecasts, saying they were not realistic given the flats cost more than HK$10 million each. Photo: Felix Wong

Cheung Kong (Holdings) expects to bank between HK$28 billion and HK$30 billion from property sales in 2013, higher than this year despite the market being clouded by growing uncertainty.

The projected property sales will be slightly more than this year's HK$27 billion on sales of 3,300 units, said executive director Justin Chiu Kwok-hung.

28 Dec 2012 - 4:14am

Fewer new flats sold over Christmas holidays this year

Prospective buyers examine a model of Yuen Long's The Reach on display at its sales office at Miramar Shopping Centre. Photo: Nora Tam

Hong Kong's property market is not benefiting from the Christmas spirit, with just a few new homes sold over the holiday period as the latest round of cooling measures bite.

27 Dec 2012 - 1:59am

Thousands flock to show flats for subsidised Greenview Villa

The queue was long at the Greenview Villa sales office in Cheung Sha Wan. Photo: K. Y. Cheng

Flats at the first estate being sold under Hong Kong's "My Home Purchase Plan" are seeing an overwhelming response from potential buyers, some of whom say they may purchase a unit for their adult children.

22 Dec 2012 - 3:51am

Subsidised flats first to be offered for sale using saleable area

A showflat of Greenview Villa in Cheung Sha Wan which is a subsidised Housing Society project in Tsing Yi. Photo: Jonathan Wong

The government's "my home purchase plan" will be the first residential property development in the city to provide flat details in terms of saleable area only, and not gross floor area.

21 Dec 2012 - 3:47am

Tax takes huge toll on sales, industry

REDA chairman Stewart Leung says the drop in sales from the new duty will force thousands of agents out of the market. Photo: Paul Yeung

Hong Kong's real estate industry has grown rapidly in the past thanks to the city's famously non-interventionist economic approach.

But those heady days appear to be over with one of the biggest brakes on players' profits now government policy, according to Real Estate Developers Association (REDA) chairman Stewart Leung Chi-kin.

21 Dec 2012 - 3:46am

Developers wary after slow response to One West Kowloon launch

Cheung Kong's One West Kowloon project only sold about 40 of the 286 flats on offer so far. Photo: Felix Wong

Hong Kong developers are expected to delay launching new projects offering larger and pricier flats in response to the slowdown in sales caused by the latest measures aimed at cooling down the property market.

12 Dec 2012 - 3:23am

Hong Kong housing market 'painfully slow', says Ricacorp's Patrick Chow

Patrick Chow

Hong Kong home sales are mired in a slow and painful contraction and estate agents predict a recovery is not on the cards until after the Lunar New Year.

"The market is painfully slow," said Patrick Chow Moon-kit, head of research for Ricacorp Properties. "The situation will last for a while."

10 Dec 2012 - 1:53pm

'Slow start' to flat sales at One West Kowloon

Cheung Kong offers 100 flats for sale in its One West Kowloon project yesterday. Photo: Felix Wong

Cheung Kong sold 30 units of its Lai Chi Kok project in the first hour of its launch yesterday, a result that market watchers described as a poor sales performance.

6 Dec 2012 - 3:16am

Higher home sales push up land prices

Prices of new homes like these in Qingdao are rising. Photo: EPA

Mainland land sales climbed to a 16-month high to 66.3 billion yuan (HK$81.79 billion) last month as higher home sales boosted developers' confidence. Data from mainland consultant E House showed the average land price in 10 cities rose 18 per cent from October to 2,580 yuan a square metre.

6 Dec 2012 - 3:16am

Rebound in sales of flats in Beijing after party names new leaders

Flats at several new suburban projects have been released by developers in Beijing this month, helping to boost sales. Photo: AFP

The release of pent-up demand after three months of slow sales boosted home-buying in Beijing this month.

"Sales of new and second-hand homes in the capital city rose by up to 20 per cent in the first three weeks of this month, compared with the same period last month," said Dickson Wong Hung, chief executive (northern and southwest China) of Hong Kong estate agency Centaline.

28 Nov 2012 - 3:13am

Hong Kong home sales bounce back after dip following rise in stamp duty

Second-hand home purchases in Hong Kong's 50 housing estates rose by almost a third last week, after a decline over the previous four weeks. Data complied by the property agent Ricacorp Properties showed 147 flats registered during the week from November 12 to November 18, a 31 per cent rise on the 112 flats registered in the previous week.

21 Nov 2012 - 3:18am

Property Digest, November 21, 2012

Retail rental growth in the four major shopping districts slowed for the second consecutive quarter, Colliers International said.

21 Nov 2012 - 3:36am

Property curbs will not slow SHKP sales

Co-chairman Raymond Kwok and Thomas Kwok say SHKP will keep to its sales schedule. Photo: Felix Wong

Sun Hung Kai Properties will not slow the pace of its sales programme even though fresh curbs have led to a sharp fall in home sales and a softening of property prices.

16 Nov 2012 - 2:47am