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Hong Kong property

Hong Kong property
Latest news and analysis about Hong Kong’s property industry, including sales, market outlook, policies, products and the performance of developers.
Deep Water Pavilia in Wong Chuk Hang is jointly developed by a consortium led by New World Development. Photo: Handout
Hong Kong

Morgan Stanley banker buys two Hong Kong flats for US$18.8 million

David Wraight joins a growing list of wealthy investors and financial executives betting on a recovery in the city’s housing market.

Hong Kong housing

Hong Kong’s URA may review cuts to residents’ compensation over redevelopment

Banking & finance

Sale of 11 Skies could relieve New World of liabilities in project, UBS says

Hong Kong housing

Letters | Home sweet home? More like investment sweet investment in Hong Kong

Readers discuss the city’s world-topping property prices, care for low vision, and what Napoleon’s wallpaper had to do with his death.

A view of residential buildings on Hong Kong Island in 2023. Hong Kong remains the world’s most expensive city to buy a home and ranks as the seventh priciest rental market. Photo: Yik Yeung-man
Office rental

More Hong Kong office tenants seek longer rent-free periods: Colliers

Some nine out of 10 office tenants in Hong Kong expect longer rent-free periods from their landlords, Colliers says.

Property financing

Villa, luxury home sales rise in Hong Kong as the rich pounce on bargains

286 deals on homes valued at more than HK$500 million each were registered in the first half, a jump of 23.3 per cent from the same period last year, Centaline said.

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Banking & finance

Hong Kong property sector could face challenges but ‘risks are manageable’: FSDC

Benjamin Hung Pi-cheng says Hong Kong’s economy is diversified and sits on a solid foundation.

Benjamin Hung Pi-cheng, chairman of the Financial Services Development Council. Photo: Dickson Lee
Robert Kuok Hock Nien

Kuok Hui Kwong, daughter of Malaysia’s richest man, to lead Shangri-La Asia

Kuok has been Shangri-La Asia’s executive director since June 2016 and chairman since January 2017.

International Property

1 in 388 Hong Kong homeowners has a net worth of more than US$30 million

The density of ultra-wealthy residents and second-home owners in Hong Kong was more than twice that of London.

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Asia housing and property

Skechers to take over Patek Philippe space on Causeway Bay’s Russell Street

American footwear and apparel company takes advantage of a slump in Hong Kong’s retail market.

The site of a future Skechers store in Causeway Bay. Photo: Stanley Shin
Property financing

Developer Grand Ming avoids risking default by getting waivers from lenders

Developer says its lenders will not demand immediate repayment following a breach.

A view of Hong Kong’s Central district. Photo: Dickson Lee
Property financing

Lingnan University buys T-Plus assets at 40% discount amid property slump

The university paid HK$120 million for the shopping arcade, shops and car park in the residential tower, agents say.

Wealth management

Hong Kong’s ultra rich get the cheapest champagne, priciest lawyers

Hong Kong falls to third place amid dropping property prices, cheap champagne, research says.

Architecture and design

Architect Rocco Yim designed some of Hong Kong’s most iconic structures

Once doubtful this city had architectural lessons to offer, Yim now reflects on his own projects that have shaped Hong Kong’s skyline.

Architect Rocco Yim Sen-kee is responsible for some of Hong Kong’s most iconic spaces. Photo: Jocelyn Tam
Hong Kong society

Hong Kong Covid facility at old airport takes off as youth hostel, culture hub

“Runway 1331” project expected to provide young people with opportunities for entrepreneurship, cultural exchange and talent development.

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The Kai Tak facility offers single, double and triple rooms. Photo: Sam Tsang
Hong Kong

Hong Kong property buyers snap up most flats at Novo Land and 9 Eastern Street

Sun Hung Kai sells all 110 flats on offer at Novo Land, while Million Nice sells 62 of the 69 flats, agents say.

Property financing

Why can’t Hong Kong retail landlords cut rents for struggling tenants?

Slashing rents impacts assessments, so landlords must strike a balance between cash flow and long-term asset value, Knight Frank says.

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Hong Kong housing

Walk through history at soon-to-be-demolished Hong Kong sea-view public estate

Walking tours organiser wants to tell the stories of Wah Fu Estate and its residents before the site is demolished for redevelopment.

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Henry Chai (left) and artist Swing Lam at Wah Fu Estate. Photo: Dickson Lee
Hong Kong society

HKU, officials push back against Hongkongers’ development site proposal

Pok Fu Lam residents’ suggestion to build HKU’s innovation centre at Mount Davis site would take up more green belt area, authorities say.

Hong Kong land sale

Hong Kong government to offer just 1 residential plot for sale this quarter

A 6,500-square-metre plot at the junction of Wing Shun Street and Texaco Road in Tsuen Wan will be tendered in the July to September quarter.

Property financing

Commercial property crisis looms in Hong Kong amid sliding values

Capital value of commercial property set to fall by up to 10 per cent this year, with office and shop rents also slipping, JLL says.

Pedestrians stand in front of closed retail shops in Causeway Bay on August 9, 2024. Photo: Edmond So
Hong Kong society

University of Hong Kong’s revised IT hub plan angers Pok Fu Lam residents

University seeks to build on site in Pok Fu Lam, with residents accusing it of dismissing alternative sites without proper due diligence.

The initial proposal also met with backlash over plans to build on a green belt in the area. Photo: Dickson Lee
Hong Kong

Stamp-duty change sparks sales surge in lower-priced Hong Kong homes

Sales of homes priced between HK$3 million (US$382,000) and HK$4 million jump 73 per cent year on year after change, government says.

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New World Development

Hong Kong developer New World eyes sale of China assets after refinancing deal

New World plans to sell property assets in China, including landmarks like its K11 buildings in Hangzhou, Shenzhen and Shanghai, sources say.

Hong Kong science and tech

University of Hong Kong calls Pok Fu Lam site best option for its innovation hub

Building on residential plot in area offers more advantages than locations on Mount Davis and Northern Metropolis land, university says.

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The University of Hong Kong hopes to submit a revised proposal to the Town Planning Board in March next year. Photo: Dickson Lee
Hong Kong

Hong Kong developer Grand Ming’s crisis deepens with US$611 million loan default

Company says it is in talks with lenders for waivers and has not received any demands for immediate repayment.

Grand Ming’s The Grand Marine residential project in Tsing Yi. Photo: Google Maps
Retail properties

Hong Kong economy’s ‘mixed signals’ portend retail ‘turbulence’, analysts say

Shops keep closing despite retail sales growth but certain sectors show ‘leasing velocity’, while both tourist numbers and unemployment rise.

Hong Kong society

University of Hong Kong plans to cut size of development site after backlash

Source says HKU looking at building on residential plot nearby, leaving most of a Pok Fu Lam green belt untouched.

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