Ricacorp Properties

Agencies put expansion on hold as flat sales fall

Willy Liu Wak-keung, chief executive at Ricacorp Properties

A sharp decrease in home sales since the release last month of another round of measures aimed at cooling the the property market forced property agencies put their expansion plans on ice.

Wednesday, 14 November, 2012, 3:22am


Several major property agencies are to expand as developers launch more new projects in the second half of the year. Centaline Properties is expected to increase its number of branches to about 330 from 305, while Midland Realty will increase its workforce by about 20 per cent to about 3,000.

6 Jul 2012 - 12:00am

Big agencies to expand to offset fall in profitability

Large estate agencies are eyeing expansion into space left by smaller firms quitting the Hong Kong market in a bid for a greater market share.

Macau-based Region One Realty entered Hong Kong in 2010 and had four branches in Kowloon, but one has closed and the rest will do so next month due to falling sales.

13 Jun 2012 - 12:00am

Secondary-market home sales fall to 18-week low

Sales of homes on the secondary market fell to an 18-week low for the week ended June 3, data from estate agency Ricacorp Properties show.

6 Jun 2012 - 12:00am

Lack of new launches boosts secondary market

With no new launches of property projects in the offing, homebuyers in Hong Kong turned their attention to the secondary market last week, pushing sales to a seven-week high.

9 May 2012 - 12:00am

Slow sales seen as supply rises

New-home sales are expected to show little growth in the city this year, despite projections that the number coming onto the market will be the highest for three years.

11 Apr 2012 - 12:00am

Holiday rebound for second-hand homes market

Sales of second-hand homes rebounded about 50 per cent over the weekend compared with the previous weekend, property agents said.

Centaline Property Agency data showed that 41 flats were sold on April 6 and April 7, up 52 per cent on the 27 units that changed hands a week earlier. (March 31 and April 1).

10 Apr 2012 - 12:00am

RURAL beauty

Luxury houses have been one of the best-performing categories in the property market's revival this year. Midland Realty says in the first 20 days of this month, there were 101 transactions of first- or second-hand houses valued at more than HK$10 million apiece, the highest monthly figure since June last year.

30 Mar 2012 - 12:00am

HK market may have bottomed

Hong Kong property sales volume may have bottomed, with sales agreements filed with the Land Registry this month expected to be at least 150 per cent up on February.

The Land Registry said yesterday it had received 5,425 sale and purchase agreements for all types of properties last month, 20.8 per cent more than in January but a decline of 56.3 per cent year on year.

3 Mar 2012 - 12:00am

Pro-active team players sought to scale the ladder

Frontline sales, agents and clerical support Centaline Group

The property agency of over 38,000 employees that covers Greater China with seven business lines - and which grew out of a single-desk office in 1978 - is seeking frontline staff, such as sales people, licensed estate agents and frontline clerical support.

3 Dec 2011 - 12:00am

Sales of new homes surge as developers cut prices

Sales of new homes surged to 390 at the weekend, from 75 the previous weekend, as developers rushed to sell. Some flats sold for less than comparable second-hand homes.

30 Nov 2011 - 12:00am

Agents rein in expansion and seek rent cuts

Real estate agencies are bidding for cuts in their branch rents and slowing their expansion into new outlets to weather falling commission incomes as deal volumes plunge to their lowest levels since March 2009.

12 Oct 2011 - 12:00am

A rare bust in HK's property market boom

Hong Kong's property market is booming, yet a property investor has managed to make a rare loss, following the government's crackdown on the home loans market in June.

19 Jul 2011 - 12:00am

Investors drive small flats out of reach

Investors are pushing the prices of new small flats in Hong Kong to fresh highs that are beyond the reach of first-time owner-occupiers.

Evidence that genuine end-users are being squeezed out was on display at two launches last month that saw the price of a 297 sq ft one-bedroom flat hit HK$5.19 million, and almost double that for a 467 sq ft flat.

1 Jun 2011 - 12:00am

Sales pick up on sellers' willingness to negotiate

Home sales in Hong Kong's secondary market picked up slightly last week as sellers lowered their asking prices, according to agents.

Some 261 homes were sold during the week from November 29 to December 5 in the secondary market in the 50 housing estates monitored by property agent Ricacorp Properties.

8 Dec 2010 - 12:00am