Luxury Homes

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

Luxury homes to see slower rent growth

Expatriates have seen their housing allowances cut because of the global slump, leading to a decline in demand for luxury homes. Photo: AFP

Rents for luxury homes in Hong Kong may rise just 2 per cent this year, but those for mass-market flats could jump as much as 10 per cent, Jones Lang LaSalle said.

The property consultancy found rents for luxury homes continued to drop in the first quarter as a sluggish global economy dampened demand.

16 Apr 2013 - 5:24am

Pay cuts for foreign bankers slow luxury-home rent rises in Hong Kong

Cuts in expats' expenses hit rents

Rents for luxury homes in Beijing, Shanghai and Guangzhou grew faster last year than those in Hong Kong, where demand was affected by cuts in allowances for expatriate staff in the financial industry, property consultants say.

4 Apr 2013 - 4:03am

Hong Kong still the world's most costly city for billionaire homes

'Billionaire' properties in the city average HK$84,400 per sq ft for an average home of 5,200 sq ft

Hong Kong remains the most expensive city in the world for billionaire trophy homes, a report by international property consultancy Savills says. "Billionaire" properties in the city average £7,200 (HK$84,400) per square foot for an average home of 5,200 sq ft, it says.

21 Mar 2013 - 8:36am

Hong Kong luxury prices stagnate as new taxes bite

Luxury houses on Victoria Peak. Photo: AP

Luxury residential prices in Hong Kong stagnated in the final quarter of last year, following a sharp rise in the first three quarters that was dented by measures from the government to cool home prices.

6 Mar 2013 - 4:40am

Hong Kong unlikely to follow Singapore in raising taxes for luxury homeowners

Hong Kong unlikely to follow Singapore in raising taxes for luxury homeowners

Hong Kong is unlikely to follow Singapore's example by raising taxes for owners of the most expensive luxury homes, property and tax experts say. The city-state's initiative is seen as being aimed less at cooling the market than at taxing the wealthy as part of efforts to reduce the income gap.

27 Feb 2013 - 1:43pm 7 comments

Digging deep for some illegal space

Henry Tang Ying-yen's house in Kowloon Tong. Photo: David Wong

Is the illegal giant basement found under the home of former chief executive candidate Henry Tang Ying-yen and his wife in Kowloon Tong an exception, the result of the couple's greed for space despite their already huge luxury home?

18 Feb 2013 - 1:55am 2 comments

Property Digest, January 30, 2013

Tomson Group announced it had agreed to acquire two sites, with a total site area of 450,460.8 square metres, in Shanghai's Pudong for a total of 1.09 billion yuan (HK$1.34 billion).

30 Jan 2013 - 4:07am

Rise in price of luxury homes slows in London

Doing the cleaning at a property in Belgravia. Photo: Bloomberg

Luxury home prices in central London rose at their slowest rate in more than two years last month as investors delayed purchases ahead of possible new property taxes, according to Knight Frank.

5 Dec 2012 - 4:15am

Property Digest, November 28, 2012

Given strong transaction volume in the month to date, November presales of homes on the mainland are expected to hit a yearly high, according to a report by Jefferies Equity Research issued yesterday.

28 Nov 2012 - 3:13am

Mass market home rents surge, luxury rents flat

Home rents have been rising in the mass market, while luxury sector rents have remained flat.

Surging mass market home rentals so far this year have hit the headlines in Hong Kong, but in the luxury sector rents have barely budged - prompting quips of a "tale of two rental markets".

28 Nov 2012 - 3:13am

Four Seasons Place offers luxury living for Shanghai flat owners

Those living in Four Seasons Place will have access to all the facilities of the Four Seasons Hotel including in-room dining, a business centre, an indoor infinity pool and fitness facilities. Photo: SCMP

Developer Shui On is offering wealthy buyers units in its Four Seasons Place in Pudong, Shanghai, priced at more than 20 million yuan each.

Managed by the Four Seasons Hotel and Resorts, its private residences are located above the Four Seasons Hotel on the 42nd to 55th storeys of the tower.

28 Nov 2012 - 3:13am

London's star shines bright

Living room at Fitzroy Place. The development is well ahead of sales projections.

Measures intended to cool the British luxury market have failed to curb Asian appetites for prime London property. Flats upwards of £1 million (HK$12.4 million) almost walked out the door at a release this month in Central, far exceeding the developer's expectations. One penthouse sold for £7.5 million, a new high for Fitzroy Place in Fitzrovia.

28 Nov 2012 - 3:13am

Union Hospital built luxury homes on its land

Union Hospital (left) in Sha Tin turned part of its land into Hill Paramount luxury residential development (right). Photo: Sam Tsang

A private hospital built luxury housing on part of a piece of land it was granted for health-care use, the Director of Audit has found.

15 Nov 2012 - 4:35am 4 comments

London luxury prices rise most in four months

The One Hyde Park development in Knightsbridge, where prices continue to rise. Photo: Bloomberg

Luxury-home prices in central London rose at the fastest rate in four months in October as overseas investors sought less-risky assets, broker Knight Frank said.

The average value of a house or apartment in the most expensive neighbourhoods climbed 0.8 per cent from September.

7 Nov 2012 - 3:16am