https://www.scmp.com/rss/48/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal Hong Kong’s sales of luxury homes more than doubled in the first quarter from a year earlier, helped by a buoyant stock market and attractively priced assets that drew the attention of wealthy investors including mainland Chinese buyers, according to analysts. The segment was likely to record another increase in the second quarter, they added. “With the wealth effect from accumulated gains in the stock market over the past two years, both local and mainland Chinese capital have seized the... https://www.scmp.com/business/article/3351361/frenzy-hong-kong-luxury-homes-set-continue-after-156-sales-rise-first-quarter?utm_source=rss_feed https://www.scmp.com/business/article/3351361/frenzy-hong-kong-luxury-homes-set-continue-after-156-sales-rise-first-quarter?utm_source=rss_feed Sun, 26 Apr 2026 06:00:21 +0000 Cheryl Arcibal Cheryl Arcibal Mainland China’s population of ultra-high-net-worth individuals (UHNWIs) – those with assets exceeding US$30 million – has grown by 23 per cent over the past five years to 121,677, and is projected to expand a further 18.8 per cent to 144,602 by 2031, according to Knight Frank. Despite that growth, China’s share of global UHNWIs edged down by one percentage point to 17 per cent this year and was expected to fall further to 15 per cent by 2031, as rapid wealth creation in the United States... https://www.scmp.com/business/article/3351114/mainland-chinas-ultra-wealthy-numbers-rise-hong-kong-tipped-faster-growth?utm_source=rss_feed https://www.scmp.com/business/article/3351114/mainland-chinas-ultra-wealthy-numbers-rise-hong-kong-tipped-faster-growth?utm_source=rss_feed Thu, 23 Apr 2026 07:00:03 +0000 Peggy Ye Peggy Ye Veteran Hong Kong sports administrator Lawrence Yu Kam-kee is selling his Kowloon Tong home of over 50 years for about HK$190 million (US$24.2 million), after waiting patiently for market conditions to improve. “I had wanted to sell for a long time but waited until the market improved a bit to get a better price,” Yu told the South China Morning Post. He added that he had moved out of the house about a year ago as it was too large for a single occupant. The sale agreement had been signed and a... https://www.scmp.com/business/banking-finance/article/3348677/hong-kong-home-bought-52-years-ago-fetches-owner-252-times-return?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348677/hong-kong-home-bought-52-years-ago-fetches-owner-252-times-return?utm_source=rss_feed Thu, 02 Apr 2026 00:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Minna Honkanen could not have anticipated the seismic events that would grip Hong Kong after she decided to try her luck there in early 2019. Two months after she arrived, unprecedented social unrest engulfed the city, followed immediately by the coronavirus pandemic, which shut borders and restricted travel for more than two years. Least of all did the Finnish national imagine she would become a luxury property agent in one of the world’s most expensive real estate markets, securing exclusive... https://www.scmp.com/business/article/3344931/hong-kong-luxury-real-estate-how-european-agent-won-us3045-million-penthouse-listing?utm_source=rss_feed https://www.scmp.com/business/article/3344931/hong-kong-luxury-real-estate-how-european-agent-won-us3045-million-penthouse-listing?utm_source=rss_feed Mon, 02 Mar 2026 00:30:16 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong commercial real estate is the Asia-Pacific region’s fifth most favoured investment destination for cross-border capital this year, underscoring an improved outlook for the city’s battered property market, according to a CBRE report. Hong Kong also recorded the second-highest number of luxury residential property deals among 12 super-prime markets worldwide in the last quarter of 2025, sustaining a recovery that began in the second quarter, a report from Knight Frank showed. After a... https://www.scmp.com/business/article/3342451/hong-kong-back-top-choice-foreign-commercial-property-investors-study-says?utm_source=rss_feed https://www.scmp.com/business/article/3342451/hong-kong-back-top-choice-foreign-commercial-property-investors-study-says?utm_source=rss_feed Thu, 05 Feb 2026 03:15:41 +0000 Cheryl Arcibal,Themis Qi Cheryl Arcibal,Themis Qi A buyer bearing the same name as veteran investor Xu Liusheng is the latest owner of a luxury home in Hong Kong after acquiring a HK$342 million (US$43.9 million) unit in the affluent Southern district, with the transaction adding to a growing list of prime assets being snapped up following years of falling prices. The buyer shares the name of the owner of Shenzhen Kaifu Investment, who is known for acquiring shares in public companies in mainland China. Shenzhen Kaifu was recently deregistered,... https://www.scmp.com/business/article/3333683/us44-million-sale-hong-kong-luxury-home-linked-mainland-chinese-investor?utm_source=rss_feed https://www.scmp.com/business/article/3333683/us44-million-sale-hong-kong-luxury-home-linked-mainland-chinese-investor?utm_source=rss_feed Fri, 21 Nov 2025 08:43:37 +0000 Cheryl Arcibal,Themis Qi Cheryl Arcibal,Themis Qi A company associated with Vincent Gao Leyi, the founder of Hong Kong-based hedge fund CoreView Capital, has bought a luxury home in the city’s Southern district for about HK$579 million (US$74.3 million), according to official records. Matrix Properties was identified as the buyer of House 6 at the upscale development No 15 Shouson Hill in one of the city’s most exclusive enclaves, Land Registry documents showed. According to the Companies Registry, Gao serves as a director of Matrix Properties... https://www.scmp.com/business/companies/article/3333521/hong-kong-hedge-fund-founder-buys-luxury-home-shouson-hill-us743-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3333521/hong-kong-hedge-fund-founder-buys-luxury-home-shouson-hill-us743-million?utm_source=rss_feed Thu, 20 Nov 2025 07:17:32 +0000 Cheryl Arcibal Cheryl Arcibal Australia, with its stable political and economic landscape, is likely to attract more property investors from Hong Kong and mainland China in the coming year, according to agents. The luxury property segment of the world’s sixth-largest country is also expected to see increased interest from affluent investors looking for cost-efficient safe havens amid changes in the immigration and residency requirements of the US and the UK, among other jurisdictions. “For many years, Australia has been a... https://www.scmp.com/business/article/3332923/australia-draws-mainland-hong-kong-homebuyers-back-stable-policies-economy?utm_source=rss_feed https://www.scmp.com/business/article/3332923/australia-draws-mainland-hong-kong-homebuyers-back-stable-policies-economy?utm_source=rss_feed Sun, 16 Nov 2025 03:00:16 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s luxury residential rents are likely to climb another 3 to 5 per cent next year as growing numbers of returning Western expatriates and home-grown professionals drive demand for high-end accommodation, according to Savills. Deals were expected to exceed the 660 last year, said Jack Tong, the property consultancy’s director of research. “The outlook remains cautiously positive,” he added. For next year, Savills expected “stable to gently rising luxury rents as the supply of prime units... https://www.scmp.com/business/article/3332283/returning-expats-fuel-hong-kongs-luxury-rental-rebound-savills-says?utm_source=rss_feed https://www.scmp.com/business/article/3332283/returning-expats-fuel-hong-kongs-luxury-rental-rebound-savills-says?utm_source=rss_feed Wed, 12 Nov 2025 00:30:08 +0000 Cheryl Arcibal Cheryl Arcibal The number of luxury flat rental deals in Hong Kong continued to rise this year, buoyed by demand from wealthy mainland Chinese and Western expatriates, amid the city’s stock market rally and the government’s efforts to attract more affluent investors, according to agents. In the first nine months of the year, there were 168 deals for rentals that cost HK$100,000 (US$12,870) a month – a 10 per cent increase over the same period in 2024 – at The Peak and the Southern district, two of the city’s... https://www.scmp.com/business/money/wealth/article/3331154/wealthy-mainland-chinese-western-expats-drive-hong-kongs-luxury-flat-rentals?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/3331154/wealthy-mainland-chinese-western-expats-drive-hong-kongs-luxury-flat-rentals?utm_source=rss_feed Sun, 02 Nov 2025 01:30:15 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong is riding a 10-month high in transactions involving upmarket real estate deals, with former chairman and CEO of Alibaba Group Holding Zhang Yong joining the wave after purchasing a luxury home in Mid-Levels for HK$53.54 million (US$6.89 million). In the first 20 days of October, 78 first-hand private residential sales priced between HK$30 million and HK$49.99 million were registered, according to Land Registry data. “This represents a 24 per cent increase from the 63 transactions for... https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed https://www.scmp.com/business/article/3330471/hong-kong-sees-10-month-high-upscale-home-sales-former-alibaba-ceo-joining-wave?utm_source=rss_feed Mon, 27 Oct 2025 09:28:47 +0000 Salina Li Salina Li Hong Kong recorded a billion-dollar home sale this week, another sign that ultra-wealthy customers are continuing to find choice assets even amid the city’s property slump. A mansion at 1 Gough Hill Road on The Peak on Hong Kong Island, refurbished from an old guest house used in the 1990s by Bank of China, sold for HK$1.088 billion (US$139.87 million) on Tuesday, according to the transactions register. The buyer’s identity could not be ascertained. That made it the city’s most expensive home... https://www.scmp.com/business/article/3323296/buyer-snaps-billion-dollar-peak-home-ultra-wealthy-defy-hong-kongs-property-slump?utm_source=rss_feed https://www.scmp.com/business/article/3323296/buyer-snaps-billion-dollar-peak-home-ultra-wealthy-defy-hong-kongs-property-slump?utm_source=rss_feed Wed, 27 Aug 2025 06:05:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s luxury home rents increased the most globally in the second quarter, according to Knight Frank, benefiting from an influx of high-net-worth individuals through the capital investment scheme. A survey tracking 16 cities worldwide showed upscale residential rents climbed 8.6 per cent in the April to June period from a year earlier, the consultancy said. Tokyo came a close second with an 8.3 per cent increase, followed by New York at 6.9 per cent. Singapore ranked 13th with a 1.5 per... https://www.scmp.com/business/article/3322670/hong-kong-luxury-rents-lead-world-86-surge-second-quarter-knight-frank?utm_source=rss_feed https://www.scmp.com/business/article/3322670/hong-kong-luxury-rents-lead-world-86-surge-second-quarter-knight-frank?utm_source=rss_feed Thu, 21 Aug 2025 23:30:06 +0000 Cheryl Arcibal Cheryl Arcibal Prime residential prices are cooling globally, with Hong Kong performing the worst, according to the latest study by Knight Frank. In a survey of 46 cities worldwide, Hong Kong ranked last with a 14.3 per cent decline in prices in the second quarter compared with the same period last year. On a quarterly basis, the city again took the bottom spot with an 11.7 per cent drop. Average annual growth in housing prices across the nearly four dozen cities slowed to 2.3 per cent in the June quarter,... https://www.scmp.com/business/article/3322309/global-prime-property-prices-cool-hong-kong-leads-decline-knight-frank-says?utm_source=rss_feed https://www.scmp.com/business/article/3322309/global-prime-property-prices-cool-hong-kong-leads-decline-knight-frank-says?utm_source=rss_feed Tue, 19 Aug 2025 03:30:08 +0000 Yuke Xie,Cheryl Arcibal Yuke Xie,Cheryl Arcibal Sales of villas, bungalows and luxury homes in Hong Kong soared to a three-year high in the first six months of this year, as an influx of wealthy immigrants fuelled the hunt for bargains on the top end of one of Asia’s priciest residential property markets. There were 286 registered transactions of villas in the first half, a jump of 23.3 per cent from the same period last year, according to data provided by Centaline Property, one of the largest real estate agencies in the city. The sales... https://www.scmp.com/business/article/3318455/sales-villas-luxury-homes-rise-3-year-high-hong-kong-demand-wealthy-buyers?utm_source=rss_feed https://www.scmp.com/business/article/3318455/sales-villas-luxury-homes-rise-3-year-high-hong-kong-demand-wealthy-buyers?utm_source=rss_feed Wed, 16 Jul 2025 23:30:09 +0000 Cheryl Arcibal Cheryl Arcibal One in 388 homeowners in Hong Kong has a net worth of more than US$30 million, making the city No 3 in terms of ultra-wealthy residents among urban centres outside the US, according to a study released on Wednesday by Altrata. Overall, Hong Kong also had the third highest number of ultra-high-net-worth individuals (UHNWIs) owning homes in the city, with 19,439, trailing New York’s 33,222 and Los Angeles with 19,781, according to the US-based group that tracks the world’s affluent. The UHNWs who... https://www.scmp.com/business/article/3318420/one-388-hong-kong-homeowners-has-net-worth-more-us30-million-study-finds?utm_source=rss_feed https://www.scmp.com/business/article/3318420/one-388-hong-kong-homeowners-has-net-worth-more-us30-million-study-finds?utm_source=rss_feed Wed, 16 Jul 2025 09:00:24 +0000 Daniel Ren,Yuke Xie Daniel Ren,Yuke Xie Investors are snapping up luxury homes in Shanghai in the 30 million yuan (US$4.2 million) plus range, as they expect super expensive homes in China’s commercial and financial hub to continue to buck the overall downward trend in the real estate market, according to market observers. But the rosy performance of this segment alone was not enough to bail out the city’s embattled property sector and the wider industry, they added. The recent buying euphoria was evident during the recent sale of... https://www.scmp.com/business/china-business/article/3304466/shanghais-luxury-property-market-thrives-while-downturn-persists-mass-housing-segment?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3304466/shanghais-luxury-property-market-thrives-while-downturn-persists-mass-housing-segment?utm_source=rss_feed Sun, 30 Mar 2025 10:14:17 +0000 Cheryl Arcibal Cheryl Arcibal Celebrities like Chow Yun-fat may have had to slash prices of their luxury homes on The Peak, Hong Kong’s most exclusive residential address, but analysts believe the worst is over and high-end homes will be back in demand next year. The recently concluded annual meeting of China’s central economic work conference chaired by President Xi Jinping, which hinted at more aggressive and bolder policy easing to stabilise the nation’s property and stock markets next year, will boost confidence in the... https://www.scmp.com/business/article/3292219/will-hong-kong-celebrities-chow-yun-fat-find-buyers-their-luxury-homes-2025?utm_source=rss_feed https://www.scmp.com/business/article/3292219/will-hong-kong-celebrities-chow-yun-fat-find-buyers-their-luxury-homes-2025?utm_source=rss_feed Wed, 25 Dec 2024 23:00:09 +0000 Yulu Ao Yulu Ao Developers in Dubai are ramping up their efforts to sell properties to wealthy Chinese, seeing “huge potential” behind growing demand from buyers who are lured by a golden visa programme, attractive rental yields and promising economic prospects. For Li Fanwu, a 36-year-old Chinese former property professional, the trend became clear earlier this year when he worked for an immigration advisory firm. Recognising the growing number of Chinese nationals relocating to Dubai, he joined Danube... https://www.scmp.com/business/china-business/article/3291890/dubai-developers-escalate-efforts-sell-properties-rich-chinese-seeing-huge-potential?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3291890/dubai-developers-escalate-efforts-sell-properties-rich-chinese-seeing-huge-potential?utm_source=rss_feed Sun, 22 Dec 2024 23:00:20 +0000 Yulu Ao Yulu Ao Sales of luxury homes jumped in the mainland Chinese cities of Shanghai and Shenzhen immediately after the historic stimulus package, with wealthy buyers snapping up some 360 flats totalling worth 20 billion yuan (US$2.85 billion) as buyers bet on a brighter economic outlook. Lakeville Phase 6, a residential project by Shun On Land in the heart of downtown Shanghai’s Huangpu district, sold all 108 flats launched on Friday, fetching some 12 billion yuan. At Auant, another luxury project in the... https://www.scmp.com/business/china-business/article/3280513/china-property-shanghai-and-shenzhen-luxury-home-sales-soar-after-stimulus-package?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3280513/china-property-shanghai-and-shenzhen-luxury-home-sales-soar-after-stimulus-package?utm_source=rss_feed Tue, 01 Oct 2024 02:30:07 +0000 Yulu Ao Yulu Ao Linda Wang, a 30-year-old Shanghai native, bought a 186-square metre new home in the city’s downtown Xuhui district at 26.4 million yuan (US$3.7 million) on August 29, after she and her family sold two other flats a year ago. Wang, whose latest purchase is her third home in the city, represents a new trend among ultra-rich homebuyers who are snapping up luxury flats despite a national property downturn, in the hope that the scarcity of properties in prime neighbourhoods of first-tier cities can... https://www.scmp.com/business/china-business/article/3277646/chinas-ultra-rich-are-snatching-luxury-homes-bet-first-tier-cities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3277646/chinas-ultra-rich-are-snatching-luxury-homes-bet-first-tier-cities?utm_source=rss_feed Mon, 09 Sep 2024 00:30:12 +0000 Rents on luxury properties in 15 major world cities rose last quarter by the slowest pace in more than three years, as prices weakened in Singapore, Toronto and Hong Kong, according to Knight Frank. Sydney, Auckland and London were the hottest markets. Rents climbed at an annual rate of 3.7 per cent in the first quarter, according to the property consultancy’s Prime Global Rental Index, which tracks prices in 15 cities. That was the smallest increase since the second quarter of 2021, and no... https://www.scmp.com/business/article/3264304/rents-luxury-homes-cool-first-quarter-singapore-drags-market-while-sydney-auckland-and-london-log?utm_source=rss_feed https://www.scmp.com/business/article/3264304/rents-luxury-homes-cool-first-quarter-singapore-drags-market-while-sydney-auckland-and-london-log?utm_source=rss_feed Mon, 27 May 2024 23:30:08 +0000 Hong Kong’s luxury property segment is showing signs of a revival, with mainland Chinese buyers returning to the market after an absence of a few years because of the pandemic. Market observers expect developers to ramp up the supply of luxury property amid increasing demand and likelihood of a potential decline in interest rates later this year. Two brand new properties totalling HK$1.2 billion (US$153.5 million) were bought by different mainland Chinese buyers last week, according to Eddie... https://www.scmp.com/business/article/3249229/mainland-chinese-buyers-return-hong-kongs-luxury-property-market-amid-signs-pickup-activity?utm_source=rss_feed https://www.scmp.com/business/article/3249229/mainland-chinese-buyers-return-hong-kongs-luxury-property-market-amid-signs-pickup-activity?utm_source=rss_feed Sun, 21 Jan 2024 07:51:35 +0000 A creditor has seized two Hong Kong luxury properties valued at more than HK$1.5 billion (US$192.3 million) owned by a company connected to a top China Evergrande executive, weeks before the next winding-up hearing against mainland China’s most indebted developer. Orix Asia Capital has appointed receivers for the adjacent homes, according to filings with the Land Registry on Tuesday. The properties, 10C and 10E on Black’s Link, The Peak, are linked to the troubled Chinese tycoon Hui Ka-yan... https://www.scmp.com/business/article/3242455/hong-kong-mansions-worth-us192-million-linked-china-evergrande-founder-hui-ka-yan-seized-creditor?utm_source=rss_feed https://www.scmp.com/business/article/3242455/hong-kong-mansions-worth-us192-million-linked-china-evergrande-founder-hui-ka-yan-seized-creditor?utm_source=rss_feed Wed, 22 Nov 2023 08:46:16 +0000 A luxury home in Redhill Peninsula, the upscale district of Hong Kong where inspectors discovered dozens of suspected illegal structures in the wake of a recent landslide, has sold for just over half what the owner paid for it six years ago, according to property agents. “The owner just sold 174 Cedar Redhill for HK$60 million (US$14.24 million). They had an uncompleted renovation with basements that need repairs,” said an agent speaking on condition of anonymity. The property, with a gross... https://www.scmp.com/business/article/3236322/luxury-home-redhill-peninsula-where-landslide-exposed-illegal-structures-sells-just-over-half-its?utm_source=rss_feed https://www.scmp.com/business/article/3236322/luxury-home-redhill-peninsula-where-landslide-exposed-illegal-structures-sells-just-over-half-its?utm_source=rss_feed Sat, 30 Sep 2023 02:00:37 +0000 A government crackdown on illegal structures in Hong Kong’s luxury homes is giving the high-end property market a chill, adding to financial headwinds that could derail a revival this year from a four-year low, analysts said. Buying decisions could suffer in the short term, according to Midland Realty, after Typhoon Saola and record rainfall this month wreaked havoc in the city, damaging some luxury residential homes in Tai Tam and Tuen Mun, exposing illegal structures and encroachments on... https://www.scmp.com/business/article/3235616/crackdown-illegal-structures-set-chill-demand-recovery-hong-kongs-luxury-homes-market-analysts-say?utm_source=rss_feed https://www.scmp.com/business/article/3235616/crackdown-illegal-structures-set-chill-demand-recovery-hong-kongs-luxury-homes-market-analysts-say?utm_source=rss_feed Sun, 24 Sep 2023 06:00:17 +0000 Hong Kong’s luxury property market is still waiting for affluent mainland Chinese buyers to return, according to industry analysts, but the wait could take longer as high borrowing costs and economic uncertainty continue to weigh on investors’ appetite for the city’s high-end flats. “We’ve had many inquiries from mainland Chinese investors, but they are still taking a wait-and-see attitude during the second quarter,” said Lucia Leung, director of research and consultancy in Greater China at... https://www.scmp.com/business/article/3234013/hong-kong-luxury-home-market-awaits-return-affluent-mainland-chinese-buyers-citys-talent-scheme?utm_source=rss_feed https://www.scmp.com/business/article/3234013/hong-kong-luxury-home-market-awaits-return-affluent-mainland-chinese-buyers-citys-talent-scheme?utm_source=rss_feed Sun, 10 Sep 2023 04:00:16 +0000 Creditors continued selling tycoon Chen Hongtian’s assets in Hong Kong on Tuesday. A HK$680 million (US$86.72 million) flat he owned in Opus Hong Kong in eastern Mid-Levels has been put up for sale by tender by the receivers, according to a statement by Savills, which said it had been appointed the sole agent for the deal. Chen and his wife, Chen Yao Li Ni, bought the fifth-floor flat on 53 Stubbs Road for HK$387 million in September 2015, according to official records. In February, the flat was... https://www.scmp.com/business/article/3219966/creditors-put-tycoon-chen-hongtians-us86-million-frank-gehry-designed-hong-kong-flat-sale?utm_source=rss_feed https://www.scmp.com/business/article/3219966/creditors-put-tycoon-chen-hongtians-us86-million-frank-gehry-designed-hong-kong-flat-sale?utm_source=rss_feed Tue, 09 May 2023 12:31:29 +0000 Russians own about £8 billion (US$10.7) worth of property, businesses, and other assets in the UK, according to a survey conducted by property agent Aston Chase. Of that, it said some £1.1 billion is invested in London real estate. “If the crackdown on so-called dirty money becomes severe, for example through retrospective investigation, then there will inevitably be a shift of wealth out of the UK,” said Aston Chase. Its survey showed there are more than 150,000 Russians currently living in... https://www.scmp.com/business/article/3168715/russians-own-about-us147-billion-property-london-government-moves-stamp?utm_source=rss_feed https://www.scmp.com/business/article/3168715/russians-own-about-us147-billion-property-london-government-moves-stamp?utm_source=rss_feed Mon, 28 Feb 2022 23:30:16 +0000 Hong Kong saw the record for per square foot prices of luxury homes being set a couple of times in 2021. Most of these transactions were concentrated in two areas: Mount Nicholson on The Peak and 21 Borrett Road in Mid-Levels. Nan Fung Development and The Wharf (Holdings) paid HK$10.4 billion (US$1.33 billion) for the Mount Nicholson site in an auction in July 2010. At HK$32,014 per square foot, it was the third-highest land price in the city’s history at the time. Analysts had expected it to... https://www.scmp.com/business/article/3161575/hong-kongs-luxury-homes-market-expected-set-records-2022-here-are-five?utm_source=rss_feed https://www.scmp.com/business/article/3161575/hong-kongs-luxury-homes-market-expected-set-records-2022-here-are-five?utm_source=rss_feed Fri, 31 Dec 2021 00:30:20 +0000 Any interest rate hike in the United Kingdom is unlikely to have a significant impact on home prices, offering a limited upside for Hongkongers who are looking to move to Britain under the British National (Overseas) (BN(O)) scheme and buy property there, according to analysts and agents. The UK is poised to hike interest rates from the current record low of 0.1 per cent sooner than expected, as consumer prices have been climbing steadily and are likely to peak at 5 per cent in April next year,... https://www.scmp.com/business/article/3156195/rising-uk-interest-rates-unlikely-lead-price-drop-some-hongkongers-are?utm_source=rss_feed https://www.scmp.com/business/article/3156195/rising-uk-interest-rates-unlikely-lead-price-drop-some-hongkongers-are?utm_source=rss_feed Tue, 16 Nov 2021 23:30:15 +0000 Capitalising on the current work-from-home trend, a Singaporean developer has launched a concept for a home that doubles up as an office. Flats at Midtown Bay in the city’s central business district combine colour schemes and furniture designs to simulate an office’s corporate look while featuring a spacious living and dining areas with wardrobes and kitchen furnishings, according to Dora Chng, general manager for residential at GuocoLand. “We have been looking at the changing lifestyle of... https://www.scmp.com/business/article/3155384/take-your-office-home-singapore-developer-guocoland-offers-dual-concept?utm_source=rss_feed https://www.scmp.com/business/article/3155384/take-your-office-home-singapore-developer-guocoland-offers-dual-concept?utm_source=rss_feed Wed, 10 Nov 2021 01:30:23 +0000 Hong Kong’s lived-in home prices declined by the most in nearly a year in September, after touching a record high in July as buying power was hit because of a retreating stock market, according to property consultants. Prices slipped 0.4 per cent to 396.3 last month, according to an index published on Wednesday by the Rating and Valuation Department. It was the steepest fall since October 2020 when it retreated by 0.5 per cent, according to property consultancy Knight Frank. It was also the... https://www.scmp.com/business/article/3153854/hong-kong-house-prices-fall-most-nearly-year-volatile-stock-market-hits?utm_source=rss_feed https://www.scmp.com/business/article/3153854/hong-kong-house-prices-fall-most-nearly-year-volatile-stock-market-hits?utm_source=rss_feed Wed, 27 Oct 2021 07:24:57 +0000 Local residents, bankers and lawyers have replaced pilots as top renters of luxury property in Lantau amid diminished prospects in the aviation industry, according to property agents. Rents of high-end homes in Lantau, the preferred location of aviation sector employees owing to its proximity to the city’s airport, have declined by 10 to 15 per cent since the first quarter of last year, after the Covid-19 pandemic led to massive job losses in the industry as Hong Kong closed its borders to... https://www.scmp.com/business/companies/article/3153733/lantaus-popularity-grows-among-bankers-lawyers-looking-rent?utm_source=rss_feed https://www.scmp.com/business/companies/article/3153733/lantaus-popularity-grows-among-bankers-lawyers-looking-rent?utm_source=rss_feed Wed, 27 Oct 2021 00:30:16 +0000 For Elise Kong and Ming Wong, the freedom offered under the British National (Overseas) visa scheme was the clincher that made them decide to sell their home in Hong Kong and relocate to the UK. Kong, 40, a paediatrician, and Wong, 43, a businessman, bought a four-bedroom detached home in Chertsey, a town in Surrey, south of London, for them and their two sons aged nine and seven. “Relocating to the UK was really important for our family, as we want more freedom and a better work-life balance,”... https://www.scmp.com/business/companies/article/3153617/bno-emigrants-freedom-and-better-work-life-balance-see-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3153617/bno-emigrants-freedom-and-better-work-life-balance-see-hong-kong?utm_source=rss_feed Tue, 26 Oct 2021 00:30:24 +0000 Justin Trudeau’s re-election pledge to stop foreign property speculators from pushing up Canada’s home prices will only be temporary, and will have limited impact in improving affordability, analysts said. The measure, part of Trudeau’s campaign platform for a third term as prime minister in Canada’s federal election scheduled for September 20, is likely to spur overseas buyers with ready cash to jump ahead of the ban, while local Canadians are also likely to sit on the sidelines instead of... https://www.scmp.com/business/article/3148643/trudeaus-plan-halt-foreign-buying-canadian-homes-may-backfire-cash-ready?utm_source=rss_feed https://www.scmp.com/business/article/3148643/trudeaus-plan-halt-foreign-buying-canadian-homes-may-backfire-cash-ready?utm_source=rss_feed Tue, 14 Sep 2021 03:13:08 +0000 After dangling rebates and freebies to attract buyers, Thai developers are trying out a new strategy to trim their inventory of unsold homes by auctioning them online at deep discounts. Some 120 flats in several projects across the Southeast Asian country will be made available for bidding next month on whyborder, an online property portal owned and operated by a Singapore-based company. The flats are expected to be offered at 20 to 40 per cent below their selling prices. The apartments range... https://www.scmp.com/business/article/3148446/after-rebates-and-freebies-thai-developers-auction-flats-online-bid-shake?utm_source=rss_feed https://www.scmp.com/business/article/3148446/after-rebates-and-freebies-thai-developers-auction-flats-online-bid-shake?utm_source=rss_feed Sun, 12 Sep 2021 05:03:08 +0000 Expats living in Hong Kong are among the emigrant populations globally that are most likely to go back to their home countries and buy property, according to a survey conducted by property consultancy Knight Frank. “Hong Kong was one of 17 countries or territories that expatriates said they had returned from,” said Kate Everett-Allen, head of international residential research at Knight Frank. “For some the move is only temporary whilst lockdown measures are in place, with 68 per cent saying... https://www.scmp.com/business/article/3146384/hong-kong-expats-among-emigrant-populations-most-likely-move-back-and-buy?utm_source=rss_feed https://www.scmp.com/business/article/3146384/hong-kong-expats-among-emigrant-populations-most-likely-move-back-and-buy?utm_source=rss_feed Thu, 26 Aug 2021 00:00:47 +0000 The supply for luxury homes in Hong Kong’s ultra-exclusive neighbourhood of The Peak is likely to hit 404,000 sq ft in 2024, the highest level since 2016, after demand boosted sales of mansions and high-end flats in the district by more than double to HK$12.8 billion (US$1.6 billion) in the 12-month period ending in June, according to Colliers. “We have seen more transactions in the second half of 2020 to the first half of 2021 despite the [coronavirus] pandemic, as prices have become more... https://www.scmp.com/business/article/3145944/hong-kongs-supply-luxury-homes-hit-new-high-after-demand-wealthy-buyers?utm_source=rss_feed https://www.scmp.com/business/article/3145944/hong-kongs-supply-luxury-homes-hit-new-high-after-demand-wealthy-buyers?utm_source=rss_feed Mon, 23 Aug 2021 00:30:12 +0000 The absence of foreign homebuyers, including those from mainland China, in Australia’s property market has not prevented Sydney from copping the crown of being the world’s top prime property market, with prices rising 10 per cent as of June this year, according to property consultancy Knight Frank. Prime properties are those that are in the top 5 per cent of each market by value and deemed to be the “most desirable and expensive in a given location”, according to Knight Frank. The Australian... https://www.scmp.com/business/article/3142096/sydney-shrugs-aside-covid-19-cooling-measures-and-tensions-china-emerge?utm_source=rss_feed https://www.scmp.com/business/article/3142096/sydney-shrugs-aside-covid-19-cooling-measures-and-tensions-china-emerge?utm_source=rss_feed Fri, 23 Jul 2021 00:30:17 +0000 Hongkongers are among the keenest buyers of homes that have been owned or rented by Hollywood actors, pop stars and tycoons, seeing them as a sound investment whose resale value is likely to be boosted by their celebrity associations, according to a London-based luxury property agency. “Hong Kong and mainland Chinese buyers love buying prestigious homes, and if a mansion, penthouse or house in London has a famous or prestigious former owner or tenant, it does attract their attention,” said Mark... https://www.scmp.com/business/article/3132958/hongkongers-snap-celebrity-owned-homes-london-star-power-adds-value?utm_source=rss_feed https://www.scmp.com/business/article/3132958/hongkongers-snap-celebrity-owned-homes-london-star-power-adds-value?utm_source=rss_feed Tue, 11 May 2021 23:30:06 +0000 Mainland China’s tech hub of Shenzhen recorded the fastest growth in luxury home prices in the world in the first quarter, up by 18.9 per cent over the same period a year ago and beating traditional prime property markets such as Hong Kong, London, New York and Paris, according to property consultancy Knight Frank. Chinese cities Shanghai and Guangzhou also came second and third in the list of 46 cities, registering price growth of 16.3 per cent and 16.2 per cent respectively. Shenzhen and... https://www.scmp.com/business/article/3132537/shenzhen-luxury-home-price-growth-beats-hong-kong-london-new-york-and?utm_source=rss_feed https://www.scmp.com/business/article/3132537/shenzhen-luxury-home-price-growth-beats-hong-kong-london-new-york-and?utm_source=rss_feed Fri, 07 May 2021 03:00:11 +0000 Nine months since the UK offered millions of Hongkongers a path to citizenship, the residents of its former colony have bought £959 million (US$1.3 billion) worth of homes in London, according to a leading property agency. Between July 2020 and March 2021, Hongkongers bought 1,932 units or 4 per cent of London homes sold during the period, according to Marc von Grundherr, director at Benham and Reeves, one of the largest independent agents in the British capital. With house prices averaging... https://www.scmp.com/business/article/3131263/hong-kong-residents-buy-us13-billion-worth-homes-london-after-uk-opened?utm_source=rss_feed https://www.scmp.com/business/article/3131263/hong-kong-residents-buy-us13-billion-worth-homes-london-after-uk-opened?utm_source=rss_feed Tue, 27 Apr 2021 11:30:09 +0000 An increasing number of housing estates in Hong Kong are becoming more pet friendly in a nod to homebuyers and residents who have adopted cats and dogs during the coronavirus pandemic, developers said. About half of the city’s major estates now allowed pets, up from 40 per cent in 2018, according to property consultancy Knight Frank. “As people have been staying home and in town because of travel restrictions … more developers have considered adding some pet-friendly facilities to their... https://www.scmp.com/business/companies/article/3130275/work-home-deals-put-cats-and-dogs-centre-households-compelling?utm_source=rss_feed https://www.scmp.com/business/companies/article/3130275/work-home-deals-put-cats-and-dogs-centre-households-compelling?utm_source=rss_feed Wed, 21 Apr 2021 02:00:13 +0000 London unseated Hong Kong as the top market for super-prime property in terms of transaction value, as foreign buyers including French and Hongkongers helped lift the market despite pandemic and Brexit concerns. The British capital recorded US$3.75 billion of sales from 201 transactions, according to property consultancy Knight Frank, which defines “super-prime” as homes worth US$10 million and above. London snatched the crown from Hong Kong, which had 169 deals totalling US$3.2 billion. UK home... https://www.scmp.com/business/article/3129496/london-overtakes-hong-kong-worlds-busiest-super-prime-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3129496/london-overtakes-hong-kong-worlds-busiest-super-prime-property-market?utm_source=rss_feed Wed, 14 Apr 2021 08:31:28 +0000 China’s growing investment and trade ties with Israel is spurring demand for real estate in Tel Aviv, with inquiries from mainland buyers for homes in the city rising significantly, property agents said. Inquiries from China increased from nine in the fourth quarter of 2019 to 160 in the same period last year, according to the UK-based Beauchamp Estates, which has a presence in the Middle Eastern country. Most of these inquiries were for ultra prime property markets in Tel Aviv’s popular... https://www.scmp.com/business/article/3127496/mainland-property-buyers-eye-tel-aviv-amid-israels-flourishing-trade-ties?utm_source=rss_feed https://www.scmp.com/business/article/3127496/mainland-property-buyers-eye-tel-aviv-amid-israels-flourishing-trade-ties?utm_source=rss_feed Tue, 30 Mar 2021 02:07:06 +0000 Dusit International is joining other Thai companies in tapping foreign investors by marketing its first residential project in Hong Kong after the Covid-19 pandemic crimped demand from local buyers and worsened a supply glut. The hotel operator is building a 46 billion baht (US$1.48 billion) mixed-development project in the heart of Bangkok’s central business district, as part of an effort to speed up its income diversification plan, group chief executive officer Suphajee Suthumpun said. The... https://www.scmp.com/business/companies/article/3127500/thai-developer-turns-hong-kong-foreign-buyers-upscale-bangkok?utm_source=rss_feed https://www.scmp.com/business/companies/article/3127500/thai-developer-turns-hong-kong-foreign-buyers-upscale-bangkok?utm_source=rss_feed Tue, 30 Mar 2021 00:30:21 +0000 In the first two and half months of 2021, Realstar Premier Group brokered the sale of five detached houses – including three Good Class Bungalows (GCBs) – and a corner semi-detached house at One Tree Hill estate. The six deals fetched a sales value of S$137.63 million (US$102.7 million). Last year, the firm brokered about S$1 billion landed property transactions – from town houses to GCBs. It was a record year for the firm in its 21-year history. While it is good for business, William Wong,... https://www.scmp.com/business/companies/article/3126526/singapores-good-class-bungalow-prices-soar-celebrity-owners?utm_source=rss_feed https://www.scmp.com/business/companies/article/3126526/singapores-good-class-bungalow-prices-soar-celebrity-owners?utm_source=rss_feed Tue, 23 Mar 2021 04:00:18 +0000 When Anna Mae Koo inherited a small industrial plot in Tuen Mun from her grandfather in 2016, she decided her first project would benefit the community and not be purely for profit. She hoped to build a community of creative enterprises and bring like-minded people to Tuen Mun. “When I spoke to industry experts about my plan, most said a high-end industrial project would not find tenants in the district, which is considered old and inaccessible. I was advised to build a data centre, which would... https://www.scmp.com/business/article/3125532/daughter-hong-kongs-queen-serviced-apartments-brings-luxury-tuen-mun?utm_source=rss_feed https://www.scmp.com/business/article/3125532/daughter-hong-kongs-queen-serviced-apartments-brings-luxury-tuen-mun?utm_source=rss_feed Mon, 15 Mar 2021 23:30:10 +0000 European castle estates are proving to be popular trophy assets among wealthy investors, including those from mainland China, according to agents. While they have been made popular by films such as those by Disney, the coronavirus pandemic has amplified the need for privacy and extra space. “Buyers are looking for privacy and space, and what better place to be isolated in than your very own castle,” said Lodovico Pignatti Morano, managing partner at Italy Sotheby’s International Realty. “Given... https://www.scmp.com/business/article/3124551/wealthy-mainland-chinese-and-taiwanese-buyers-search-space-privacy-are?utm_source=rss_feed https://www.scmp.com/business/article/3124551/wealthy-mainland-chinese-and-taiwanese-buyers-search-space-privacy-are?utm_source=rss_feed Mon, 08 Mar 2021 23:30:07 +0000