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
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
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
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
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 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
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
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 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
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
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
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
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
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
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