Financial instability in many of the world's leading economies, rising mortgage rates and volatile stock markets have spooked Hong Kong property investors, who have adopted a wait-and-see attitude.Monday, 28 November, 2011, 12:00am
Last Monday, Financial Secretary John Tsang Chun-wah warned in an address to the Legislative Council that property sales were falling sharply and speculated as to what kind of downturn this anticipated.28 Nov 2011 - 12:00am
The Housing Society has recruited 600 retired people, including some expatriates, to join a network promoting two upmarket housing projects for the elderly.
The move has also drawn some interest from the local Indian community, society chairman Yeung Ka-sing says.26 Nov 2011 - 12:00am
I don't know if John Tsang Chun-wah is a bit slow on the uptake, or whether he is just badly briefed. Whichever it is, he was talking to legislators on Monday, babbling about a bubble in the property market.
'It is still my worry that there could be another bubble being formed,' the financial secretary said.23 Nov 2011 - 12:00am
Home sales in Hong Kong fell to six-year lows last week following fears arising over a new round of mortgage rate rises when Standard Chartered Bank raised its home loan rates, with other lenders expected to do the same.23 Nov 2011 - 12:00am
Over the past four years, as first the United States and then Europe have suffered devastating financial crises, Beijing's sense of schadenfreude has been almost palpable.9 Nov 2011 - 12:00am
Mainland real estate agencies have started cutting staff and closing outlets because of low transaction volumes due to stringent government controls on property sales, and agents expect more cuts in the coming two months.9 Nov 2011 - 12:00am
The Beijing branch of China Construction Bank reportedly raised mortgage rates for first-home buyers, with more lenders expected to follow.
The bank was charging at least 1.05 times the benchmark rate for individual home loans, becoming the first bank to charge mortgage rates higher than the benchmark, the Beijing Times reported yesterday.15 Oct 2011 - 12:00am
Confronted with the sovereign debt crisis in Europe and the lacklustre state of the United States economy, the local property market is also going through a challenging period, although some experts suggest it provides a buying opportunity, especially for high-end properties.14 Oct 2011 - 12:00am
Recent data shows Hong Kong property buyers are quick to pick up a bargain. As home prices come under pressure due to internal and external factors, transactions have risen, especially in the luxury sector.30 Sep 2011 - 12:00am
Developers may slow or delay the launch of new flats after Cheung Kong (Holdings) only sold about 500 in its Tseung Kwan O project in the first three days of sales, according to property analysts.28 Sep 2011 - 12:00am
Nearly one-third of buyers at a new residential project in Tseung Kwan O are investors who switched from trading in volatile stocks to real estate, in a sign of increased housing market confidence, according to developer Cheung Kong Holdings.27 Sep 2011 - 12:00am
With HSBC planning to raise mortgage interest rates for the fifth time this year, charges for home loans appear to be returning to their historic levels, analysts say.
Other banks may follow HSBC's lead, said Sharmaine Lau Yuen-yuen, chief economist at mReferral Mortgage Brokerage Services.17 Sep 2011 - 12:00am
Mainland property developer Dalian Rightway Real Estate is in preliminary restructuring talks with lenders after missing a repayment on a US$447 million loan, three people involved in the situation said.
The lenders have appointed accountancy firm PricewaterhouseCoopers to review the privately held developer's finances.9 Sep 2011 - 12:00am
Demand by mainland investors for Hong Kong property is expected to soften further as credit-tightening and an uncertain global economic outlook dampen buying interest in luxury residential projects.7 Sep 2011 - 12:00am