Peering into the property market crystal ball for the year ahead

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.

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

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.

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

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".

Financial Secretary John Tsang calls for Legco to back property curbs

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. 

Leung Chun-ying defends property price curbs

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.

Chinese buyers flee Hong Kong for overseas property markets

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.

Lawmakers warn of stand against stamp duty move

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.

Kerry still targeting HK$6b in sales

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."

Tax reforms long overdue

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.

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

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.

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 could fetch between HK$3.8 billion and HK$4.38 billion, according to four surveying firms polled by the South China Morning Post.

Reserved property scheme may become policy

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.