Move by Jakarta to make it easier for foreigners to buy property in Southeast Asia’s largest economy is expected to boost sales for Swire Properties’ luxury joint venture project.
About 90 per cent of flats on offer this weekend at Yoho West, a joint project between SHKP and MTR Corp, are expected to be sold, according to agency estimates.
Transactions for 2,767 new and lived-in homes were completed last month, a 22 per cent increase from October. But overall property deals are on track to end below the all-time low of 59,619 in 2022.
The city state took pole position for the ninth time in 11 years while Hong Kong slipped one notch to rank fifth among 173 countries, according to a study by the Economist Intelligence Unit (EIU).
The city saw a record six failed land tenders this year as high interest rates, a sluggish economy and complex development requirements diminished developers’ appetite to acquire new plots, according to Colliers.
Lived-in home prices fell by 2.16 per cent in October, the second steepest monthly decline of 2023, as a property analyst predicts a 6 per cent full-year decline with a drop of up to 5 per cent for the first half of 2024.
Hong Kong and mainland China-based buyers are snapping up residential units in Australia despite elevated interest rates and surging home prices Down Under, according to agents.
The London-headquartered multibrand luxury retailer will close its doors in March, after deciding to give up its lease for 60,000 sq ft of space in the upscale mall.
Hong Kong’s shop rents are tipped to record one of the biggest increments in the Asia-Pacific region from next year until 2028, according to US-based asset manager PGIM Real Estate.
Hong Kong’s tourist hotspot of Tsim Sha Tsui retained its ranking as the most expensive retail destination in Asia-Pacific, but slipped to third place globally, according to a survey by Cushman & Wakefield.
The multifamily property segment – typically buildings or blocks of buildings owned by institutional investors and leased out as flats – is tipped to escape a property rout in mainland China as supply and demand increase, particularly in Shanghai, according to JLL.
Generative AI can support innovation, content creation, product development, marketing and services, Euromonitor says, citing Chinese travel platform Trip.com as one company that has scored direct benefits from implementing AI.
The Swiss investment bank expects home prices to decline by 10 per cent in 2024 as high interest rates dent demand and an abundance of housing stock boosts supply.
Hong Kong’s luxury home rents rose 1 per cent in the third quarter from the previous three-month period, while Singapore’s slipped by 1.7 per cent, highlighting the contrasting fortunes of Asia’s rival business hubs, Knight Frank said.
Some of the richest families in the city and the wider region attended a ceremony to launch the Hong Kong Academy for Wealth Legacy (HKAWL) in Tsim Sha Tsui.
The amount fell by more than a fifth from the same period a year ago to US$21.3 billion, the lowest figure since the second quarter of 2010, according to a report by property consultancy JLL.
The German family-owned logistics group is banking on China and the Asia-Pacific region as a key part of its expansion, saying China’s economic prospects differ from the political situations.
The indebted developer on Friday reported that October sales remained near a punishing low established in September amid a collapse of buyer confidence. Meanwhile, developer Nan Hai is forced to delist in Hong Kong.
Ping An Insurance denies report that it has been asked by Beijing to take over Country Garden and assume the distressed developer’s debts, and confirmed it holds no shares in the company.
Former footballer Gary Neville is marketing to Hongkongers, flats in a 41-storey tower in Manchester that will be the first branded residences and five-star hotel in the city located in northwest England.
Kuok Hui Kwong opened a Xiaohongshu account in October 2021, offering an insight into her life and thoughts. If there was one valuable lesson the Shangri-la heiress learned during the pandemic, it was the importance of telling a complete and authentic story to her audience.
The stories behind the distinctive round windows and the unobstructed harbour view of what was once the tallest building in Hong Kong.
Hong Kong’s residential property market was dealt a double blow after the government withdrew a residential site in Tung Chung owing to low bids even as property deals in October fell to a more than seven-year low, highlighting the difficulty that the sector is facing amid economic uncertainty and high interest rates.
High interest rates, new supply and economic uncertainties continue to pressure Hong Kong property prices even though the government’s recent measures could provide a boost to transaction volumes.
Hong Kong’s lived-in home prices fell by nearly 1.75 per cent in September to their lowest since April 2017, as elevated interest rates have dampened sentiment and kept buyers on the sidelines.
Hybrid work arrangements, which include some combination of working from homes working at a desk in remote co-working spaces and coming into traditional offices, are a way to create significant cost savings.
The positive impact of mainland China’s property stimulus measures is likely to be short-lived, with home sales remaining sluggish for at least the next six months, according to the credit ratings agency.
Thai Prime Minister Srettha Thavisin’s plan to stimulate the economy and consequentially prop up a flagging property market by ramping up government spending and boosting consumption has received mixed reactions from analysts.
We look at the impact of the policy and monetary moves since 2009 to cool home prices. Now, stakeholders want the government to roll these back. But will that have the desired effect?
More than a quarter of potential homebuyers are likely to abandon their plans of waiting it out and renting a flat if the Hong Kong government scraps property cooling measures, according to a survey by Midland Realty.