Hong Kong Property | South China Morning Post
  • Tue
  • Jan 27, 2015
  • Updated: 10:55pm

Hong Kong Property

Liquidity crunch forces mainlanders to cash out of Hong Kong luxury homes

Many of the luxury homes at Valais, near the border, are up for sale. Photo: Nora Tam

Cash-strapped mainland Chinese are scrambling to sell their luxury homes in Hong Kong, and some are knocking up to a fifth off the price for a quick sale, as a liquidity crunch looms on the mainland.

Friday, 21 March, 2014, 12:15pm 10 comments

Hong Kong developers’ profit margins squeezed

In 2010, Wharf (Holdings) and Nan Fung Development paid HK$10.4 billion for a site in Mount Nicholson Road on The Peak. Photo: Oliver Tsang

Fat profit margins may soon be a thing of the past for Hong Kong developers as they get squeezed by falling home prices on one hand and soaring construction costs on the other, coupled with increased competition from mainland rivals that bid up land prices.

6 Mar 2014 - 11:25am

Peering into the property market crystal ball for the year ahead

A fortune teller is not necessary to discern omens of developments in Hong Kong's property market. Photo: Nick Otto

Many people turn to fortune-telling books at the beginning of the year for insight on the year ahead.

But if you want hints on what this year will bring in the property market, I think a more reliable reading would be based on the latest actions of developers and the government.

3 Feb 2014 - 11:52am 2 comments

Hong Kong luxury home buyers pile in despite talk of imminent plunge in prices

Mainland buyers are returning to Hong Kong's luxury property market as developers offset foreign stamp duty with rebates and discounts. Photo: Reuters

In a shopping mall in one of Hong Kong’s prime retail districts, more than 100 people wait patiently to take a lift to the sales floors – not to buy luxury bags or clothes, but high-end apartments with price tags of up to US$4.4 million.

4 Nov 2013 - 12:35pm 3 comments

Hongkongers want property curbs to continue or be strengthened, poll finds

Public is in support of property curbs. Photo: Bloomberg

Most people believe three taxes introduced to cool the property market should stay in place or be strengthened, a survey found, despite calls from lawmakers to make the measures "less spicy".

3 Oct 2013 - 3:00pm 10 comments

Financial Secretary John Tsang calls for Legco to back property curbs

Financial Secretary John Tsang Chun-wah. Photo: Sam Tsang

Financial Secretary John Tsang Chun-wah on Wednesday urged lawmakers to support the government’s cooling measures for the property market, saying they were needed to stabilise flat prices.

The bills for the measures were tabled in the Legislative Council on Monday and debate on them will continue next Monday. 

18 Sep 2013 - 5:51pm

Leung Chun-ying defends property price curbs

Chief Executive Leung Chun-ying. Photo: Dickson Lee

Chief Executive Leung Chun-ying appealed to legislators and the public to support property market cooling measures on Tuesday after the proposals were tabled in the Legislative Council in Admiralty on Monday.

Speaking before an Executive Council meeting on Tuesday, Leung said the measures had been effective in curbing flat prices amid heated market sentiments in recent months.

18 Sep 2013 - 5:30pm 4 comments

Chinese buyers flee Hong Kong for overseas property markets

A salesman shows off a luxury development in London to potential buyers in Hong Kong. Photo: Reuters

On the seventh floor of a luxury hotel in the heart of Hong Kong, a Chinese couple listens carefully as an agent takes them on a virtual tour of an upmarket property development for sale - not in the former British colony, but in London.

25 Jun 2013 - 1:00pm

Lawmakers warn of stand against stamp duty move

Groups including foreign chambers of commerce say the government's measures make no distinction between long-term investors and speculators. Photo: Dickson Lee

Lawmakers have warned the government that they will vote against a proposal to double stamp duty on property purchases if the administration fails to make substantial changes.

14 Jun 2013 - 3:49am 3 comments

Kerry still targeting HK$6b in sales

Kerry is waiting for a certificate of compliance for Bayview.

Chu Ip-pui, an executive director of Kerry Real Estate Agency, said yesterday an occupation permit for Bayview had been granted and a certificate of compliance was expected within a month. "Then we will be able to release the units for sale in a completed condition."

14 Jun 2013 - 3:49am

Tax reforms long overdue

Around half the people in Hong Kong do not own their home, this group consisting mainly of the young and the less well off, who are further burdened by high rents and high property prices. Photo: Bloomberg

The middle class and our youth are effectively paying the highest taxes. The government prefers to generate revenue from selling land for high prices, which further drives up property prices. This will only shift wealth from the middle class further to landlords, the rich, including property developers; worsening the wealth gap.

9 Jun 2013 - 2:40am 1 comment

'White form' applicants push up flat prices of HOS and public housing

5,000 balloted  'white form' applicants for the new system now have six months to buy HOS flats on the resale market from this month.

Chief Executive Leung Chun-ying announced in July last year that 5,000 "white form" applicants for HOS flats - prospective buyers of subsidised units currently living in private flats and who do not receive a housing subsidy - would be able to buy second-hand HOS flats without paying a land premium.

5 Jun 2013 - 4:40am

Strong bidding interest expected for luxury site in Ho Man Tin

The 83,033 sq ft site at the junction of Fat Kwong and Sheung Foo streets

The 83,033 sq ft site at the junction of Fat Kwong and Sheung Foo streets could fetch between HK$3.8 billion and HK$4.38 billion, according to four surveying firms polled by the South China Morning Post.

5 Jun 2013 - 4:40am

Reserved property scheme may become policy

Paul Chan Mo-po, Secretary for Development. Photo: Sam Tsang

The comment came a day after tenders for the first two sites offered under the "Hong Kong property for Hong Kong people" scheme, at Kai Tak, drew a strong response from developers, with 29 bids.

2 Jun 2013 - 6:03am

Foreign chambers of commerce hit out at doubling of Hong Kong stamp duty

Manulife paid HK$191 million more to purchase its new tower in Kwun Tong.

Chambers of commerce that represent hundreds of foreign firms in Hong Kong are voicing unhappiness at the recent doubling of stamp duty on commercial property purchases.

31 May 2013 - 10:59am 1 comment