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Cheryl Arcibal
Cheryl Arcibal
Hong Kong
@cherylarcibal
Senior Reporter, Business
Before moving to Hong Kong, Cheryl covered the economy in her native Philippines.

Hong Kong’s current property market downturn is cyclical and not structural, with home prices set to decline by as much as 10 per cent this year as elevated interest rates keep demand in check, S&P says

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Over the past two years, Japanese businesses have been the most active among foreign firms in terms of leasing retail spaces in Hong Kong, according to data compiled by JLL.

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

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Harbour City and Times Square owner’s full-year 2023 profit fell 3 per cent to US$767.3 million even as revenue jumped 7 per cent. The company hopes to overcome headwinds through promotional activities with the Hong Kong government.

Hong Kong’s largest developer by market capitalisation is being tipped by analysts to emerge as the ‘prime beneficiary’ of the city’s removal of all property cooling measures.

The Swiss luxury brand recently auctioned 11 suitcases, each containing 11 MoonSwatch Moonshine Gold Hong Kong edition watches via Sotheby’s as part of its CSR efforts to support Orbis.

Hong Kong’s lived-in home prices fell for the ninth straight month in January, intensifying calls to roll back curbs on the sector even as the government is seeking to rein in a ballooning deficit estimated to exceed HK$100 billion (US$12.8 billion).

Chinese investors who have borrowed from the bank to buy a house abroad are facing a double-whammy as they contend with an economic slowdown at home and surging interest rates across the globe that are hampering their ability to pay for their purchases, according to analysts.

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New home prices in China’s top cities fell 0.37 per cent in January versus 0.45 per cent in December. A sharp cut to the loan prime rate indicates further loosening could be on the way, Goldman Sachs says.

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Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

Embattled mainland Chinese property developer Sunshine 100 is evaluating the impact of a winding-up order against its controlling shareholder, Joywise Holdings, according to a filing with the Hong Kong exchange.

With Filipinos shopping online more than ever, rental growth for industrial space in Manila is likely to rise between 3 per cent and 5 per cent this year after jumping nearly 40 per cent last year, Knight Frank says.

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The debt crisis at Redsun Properties is going from bad to worse as it has missed payments on several offshore bonds since mid-2022 as China’s housing market struggles to overcome a three-year slump.

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Defaulted property developer CIFI Holdings has for the third time in two months unveiled a loss-making asset disposal plan as it looks to fund operations and alleviate liquidity pressure.

Bobobox, Indonesia’s largest outdoor accommodation operator, is looking to expand into either Japan or the US this year, as it seeks to deploy its sleeping pods and cabins in two of the world’s most developed lodging markets, according to its president.

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Guangzhou R&F is seeking to offload a UK asset in the latest attempt to trim its debt burden. It is turning to Hong Kong tycoon Cheung Chung Kiu to survive the crisis.

Commercial premises will need to step up and cover a huge predicted deficit of EV charging stations, while the recycling and storage of EV batteries may spur demand for industrial and warehouse space, the property consultancy says in a report.

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The church has secured several floors at the property at 413-423 King’s Road as its ‘future permanent home in Hong Kong’, it said in a statement on its website.

More office landlords and flexible work space operators are likely to form partnerships that will do away with the traditional lease business that has been ‘catastrophic’ for the industry, according to the founder of The Work Project.

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Property deals in Hong Kong surged in January to their highest since August on stepped-up buying amid expectations of stable interest rates and hopes that a government residency scheme will draw more investments into the sector.

Hong Kong’s lived-in home prices fell by about 1.4 per cent, the eight straight monthly decline. Overall, prices fell 6.7 per cent in 2023, versus a much sharper slump than the 15 per cent decline a year earlier.

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Chinese regulators on Sunday barred strategic investors from lending securities during restricted periods, a move signalling that policymakers are serious about stabilising the country’s stock markets amid volatility.

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Hong Kong’s industrial property segment is seeing a pick up in demand, with the likes of Microsoft committing to long-term leases for data centre facilities, property consultancy JLL said.

Franklin Templeton, which has leased 21,700 sq ft on the 62nd floor of Two IFC, will shift from its present premises in Chater House. Last week, China Re leased 6,740 sq ft in the 88-storey tower.

The scale and extent of the impact, however, remains to be seen, even as half of those who availed visas under the Business Innovation and Investment Programme last year were from mainland China and Hong Kong, Juwai IQI’s Daniel Ho says.

State-owned reinsurance company China Re Asset Management is moving to the 41st floor of Hong Kong’s Two International Finance Centre in Central, where it has leased 6,740 sq ft for the same price it paid for its previous offices in Three Exchange Square.