Property market in Hong Kong

Uncertain outlook drags on luxury flat site price

This site at Kau To, Sha Tin, currently up for tender, could have its value affected by the low price paid for another plot of land yesterday. Photo: Nora Tam

Wheelock Properties outbid 11 developers to win the 83,033 square foot site for HK$3.83 billion, or HK$9,875 per square foot. Surveyors had estimated it would fetch between HK$3.8 billion and HK$4.38 billion.

Saturday, 15 June, 2013, 3:29am 3 comments

Home prices to fall further, agents say

Property prices have been falling since February, as a result of new cooling measures. Photo: Felix Wong

Estate agents believe home prices in Hong Kong could drop a further 5 per cent in the second half of the year, bringing the total decline for 2013 to around 10 per cent.

12 Jun 2013 - 3:56am 2 comments

Hong Kong second-hand home prices stable as sales volume picks up

Hong Kong second-hand home prices stable as sales volume picks up

Prices of second-hand homes in Hong Kong have been stable, with the number of sales picking up at a gradual pace.

12 Jun 2013 - 4:07am

Scheme for Hong Kong buyers needs more work to meet goal

The Kai Tak site.

The government's "Hong Kong Properties for Hong Kong People" scheme aims to help the city's struggling middle class on to the property ladder. But it risks becoming another get-rich vehicle for investors.

11 Jun 2013 - 3:25am

Official meddling to blame for lofty home prices, too

Stanley Wong Yuen-fai.

I'm not quite sure what to make of this. The normal practice for testing public opinion on a new initiative is to have the top government official concerned call in selected journalists and tell them they can only attribute it to "a high-placed source".

11 Jun 2013 - 4:22am 4 comments

Fall in Hong Kong property prices may be good for the economy

Upside of a fall

Property developers, investors and homeowners are growing increasingly concerned about the government's frequent and strident statements on excessive froth in the property market. Does this mean that everyone else can rest easy?

10 Jun 2013 - 3:35am 4 comments

Buyers return to property market

Price falls have lured buyers back into the property market.

Data from the Land Registry yesterday showed it received 5,288 property sale and purchase agreements for registration, 20.5 per cent more than in April. Year on year, the figure fell 54 per cent.

5 Jun 2013 - 4:05am

Cooling efforts bring no joy for priced-out buyers

Prices still make for an unhappy window-shopping experience for home-seekers worried about affordability. Photo: Felix Wong

Policy measures intended to cool the hot property market have so far failed to reduce housing prices to more affordable levels, say disappointed home-seekers.

3 Jun 2013 - 5:05am

June a Hong Kong market test as developers release flood of flats under new rules

Wan Chai's The Avenue, which has 1,275 flats, is expected to go on sale in the second half of the year. Photo: May Tse

The state of the city's property market will be tested from next month when a flood of pent-up releases is expected once developers have completed new marketing material that complies with tighter sales regulations introduced by the government.

22 May 2013 - 3:51am 1 comment

Timing in the market can be hit or myth for buyers

Rental yields in Kornhill may be as low as 3.5 per cent.

Is it the right time to buy? A reader raised this question when he read the news that Frederick Ma Si-hang, a former secretary for commerce and economic development, recently bought a unit at Pacific View in Tai Tam for HK$35 million, about a year after he sold his flat in Magazine Gap Road in Mid-Levels.

14 May 2013 - 3:33am 1 comment

Business Digest, March 11, 2013

Sales of flats slow at top housing estates

Compensation at the world's biggest banks rose last year, with 35 of them spending a combined €10 billion (HK$102 billion) more on staff than in 2011. Philippe Lamberts, a Belgian member of the European Parliament who supported a recently agreed cap on bank bonuses, says the figures prove that, left to their own devices, banks do not reduce pay. 

11 Mar 2013 - 4:46am

Use stamp duty windfall for those priced out of property market

Public housing in Hong Kong. Photo: Reuters

The inflow of hot money in recent years has fuelled speculation in the local property market, pushing up prices and making it impossible for many Hongkongers to get on the ladder.

7 May 2015 - 12:48pm 3 comments

Home buyers down after Hong Kong stamp duty rise

Taikoo Shing at Hong Kong Island. Photo: Robert Ng

Sales of existing homes continued to fall over the weekend, as prospective buyers stayed on the sidelines after the government doubled stamp duties just over a week ago.

7 May 2015 - 12:48pm

Buyers pay price of confusing property curbs

Residential property prices rose 21 per cent in 2012. Photo: Nora Tam

Hong Kong's famously "non-interventionist" government has intervened five times in the property market over the past five years to either raise or lower prices.

7 May 2015 - 12:48pm

Stamp duty keeping non-locals out of property market

The government has announced earlier a new 15 percent property tax for all non-local buyers, and it will also increase an existing tax aimed at curbing short-term property speculation. Photo: Sam Tsang

While observers believe it is too early to say for sure if the cooling effect was short-lived, they argue that locals buying through firms should be exempted from the tax, as figures show few speculators use companies to evade tax.

16 Feb 2013 - 8:48am 4 comments