Real Property Law

DNA Galleria buyer's ousting of tenants causes a shock

Protest posters at the DNA Galleria in Tsim Sha Tsui. Tenants are protesting over the new owner kicking them out. Photo: Jonathan Wong

The day that Lau Chun-kai signed an agreement to lease a 500 square foot shop on the second floor of the DNA Galleria shopping mall in Tsim Sha Tsui in August was one the 24-year-old hoped to celebrate for years to come.

Wednesday, 7 November, 2012, 3:16am

Chinese property stocks hit by talk of real estate tax

Worries that Beijing may bring in new real estate curbs have led to a softening of mainland property stocks since last month. Photo: Bloomberg

Mainland property stocks fell yesterday on speculation that the central government will implement a property tax in more than 30 cities.

15 Aug 2012 - 1:33am

Strategy leads to record profit

Profit at Fortune Real Estate Investment Trust (Fortune REIT) was up a record 20.3 per cent to HK$537.4 million in the first half of this year compared with the same period a year ago, as its growth strategy continued to deliver results.

15 Aug 2012 - 11:04pm

Students learn the perils of sublets

Today marks the end of a legal tangle over a property lease for mainland student Zhang Mengtao.

'I am just relieved that it is finally over,' said Zhang, who made the mistake of subletting her rented flat without letting her landlord or agents know - a pitfall into which many mainland students have evidently fallen as they seek to save additional charges for amending leases.

15 Aug 2012 - 10:42pm

LAW wins

The political controversy triggered by illegal structures in the homes of senior government officials has once again grabbed public attention on this issue.

The problem with illegal structures is that they are hard to locate. For instance, basements and indoor structures are often hidden from public view.

20 Jul 2012 - 12:00am

Wen pledge to keep property market curbs

Premier Wen Jiabao reaffirmed the need for government measures to restrain the mainland's property market yesterday.

He spoke amid expectations that back-to-back interest rate cuts could signal a policy shift.

8 Jul 2012 - 12:00am

New tax could hit owners of UK homes

Wealthy Hong Kong residents who own property in Britain could be facing a hefty tax slug if a new law is passed.

Changes to British property taxation rules, announced in the March budget, will hit those who have established companies to buy residential property worth more than GBP2 million (HK$24.2 million).

24 Jun 2012 - 12:00am

High-end home rents falling

Demand for prime, high-end residential properties in Hong Kong is weakening, forcing landlords to lower their asking rents by as much as 20 per cent.

This comes as global financial institutions place their expansion plans on hold and reduce housing allowances for expatriate staff due to the world's grim economic outlook.

20 Jun 2012 - 12:00am

Consumer confidence boosts returns for Link

The Link Real Estate Investment Trust's distributable income for the year to March has increased by nearly a fifth on the back of strong consumer confidence and retail spending that boosted demand for retail space.

7 Jun 2012 - 12:00am

Tenants on the bottom rung at the mercy of landlords

A two-year-old picks up a toy, as his mother stops him from wandering out their door-less subdivided Sham Shui Po flat. The door was removed on Wednesday after she received two weeks' notice to vacate.

1 Jun 2012 - 12:00am

Review of eviction notice sought after appeal fails

A woman has gone to court to challenge an eviction notice from the Housing Authority because of an 11-month delay in moving into a public flat.

12 Apr 2012 - 12:00am

My fifty years as a cubicle dweller

Subdivided flats are nothing new in Hong Kong. Ask Tam Kin-wai, who lived in them for half a century.

Life for the tenants was never easy, but while Tam, 78, has some fond memories of the communal living in the early years, he says things are much tougher for today's cubicle dwellers.

'Back then, people had heart - they had compassion for one another,' he says.

6 Apr 2012 - 12:00am

Property firm prospers in testing times

Prosperity Real Estate Investment Trust (Prosperity Reit) reported steady financial results for the year ended December 31, 2011 with revenue increasing by 2 per cent to HK$275.6 million.

The reit says income available for distribution grew by 10.6 per cent. Correspondingly, distribution per unit to unit holders increased by 9.2 per cent.

2 Apr 2012 - 12:00am

Just leasing more land won't open up the property market

The city's property market, which is dominated by a few large developers, is expected to be opened to more competition under the administration of chief executive-elect Leung Chun-ying, assumptionists say.

SCMP, March 28

Well, it wasn't actually assumptionists who said it. That's just my made-up word for them. The actual word in the text was 'analysts'.

1 Apr 2012 - 12:00am

SHKP penthouse breaks record

Undeterred by government austerity measures, Sun Hung Kai Properties yesterday launched its luxury residential project in Shanghai at a record price.

Victor Lui Ting, executive director of Sun Hung Kai Real Estate Agency, said a 300 square metre penthouse at Shanghai Arch on the Huangpu River in Pudong, would be offered at 264,000 yuan (HK$323,780) per square metre.

24 Mar 2012 - 12:00am

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