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Hong Kong propertyi

Latest news and analysis about Hong Kong’s property industry, including sales, market outlook, policies, products and the performance of developers.

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  • The average price per sq ft after discounts of the first 138 flats is HK$21,968 (US$2,808), the lowest among all completed projects in the residential neighbourhood
  • That is more than 20 per cent below cost, meaning the flagship developer of tycoon Li Ka-shing will make a significant loss on the inaugural batch
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The 14-storey office tower in West Kowloon will bring the bank’s staff, who are currently spread around the city, under one roof and will also be used to host VIP client meetings. UBS expects to move into the building by 2026.

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The lived-in home-price index fell 1.7 per cent in February versus 1.2 per cent in January, according to the Rating and Valuation Department. Prices have fallen for 10 months in a row, losing 13.7 per cent in value.

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Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million or more since the removal of all of Hong Kong’s property curbs last month, JLL says.

Readers discuss criticism of the plan to develop artificial islands off the coast of Lantau, possible irregularities in the sale of flats by tender, and the turnaround in Cathay Pacific’s fortunes.

Homes in England are more cramped than those in New York City, according to new analysis that showed UK property offers the worst value for money in the developed world.

Wang On Properties will be launching the most new projects since it was listed eight years ago, CEO Nick Tang Ho-hong says. Policy support and potential rate cuts later this year will lift home and rental prices.

‘We are trying to overcome it, so that people will come back to Hong Kong and experience all of the good things it has to offer’, CEO Clement Kwok says. ‘That will take some time.’

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New home sales in Hong Kong stuttered slightly on Friday, with buyers giving a lukewarm response to Henderson Land Development’s latest project in Tai Kok Tsui.

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The developer of Belgravia Place says it will launch 7,100 new homes this year, 5 per cent fewer than the 7,655 units offered in 2023. The firm reported flat underlying profit of US$1.2 billion last year.

‘There are only a few [international financial centres], and Hong Kong is one of them. It is hard-won. We must not lose this place,’ CK Hutchison and CK Asset chairman says.

US banking giant Bank of America plans to relinquish a big chunk of prime office space in Hong Kong as part of cost-saving measures, delivering a blow to the office segment.

The commercial property leasing market across most Asia-Pacific markets is improving, except in Hong Kong and mainland China where sentiment is particularly downbeat, according to CBRE.

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Private credit lenders are capitalising on businesses’ thirst for generating liquidity from their property assets in Hong Kong, banking on the city’s sound legal system.

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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Gaw Capital Partners, one of Hong Kong’s biggest real estate private-fund management firms, is focusing on logistics in Vietnam and Mexico, as well as the AI sector bailing out distressed office assets in the US, amid challenges to an economic recovery in mainland China.

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.

Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.

Simon Siu, chairman of Estate Agents Authority, says decision to scrap extra stamp duties last month was ‘shot in the arm’ for ailing property market.

The 90-year-old converted mansion, Jessville Manor, has changed hands for HK$207 million (US$26.5 million), adding to evidence that the recent scrapping of property curbs may be starting to revive the luxury housing market.

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Urban Renewal Authority announces plan to redevelop flats and shops at flower market and nearby streets, with HK$2.5 billion to be spent on acquiring properties.

Hong Kong developer Wheelock Properties has priced a first batch of 130 units at its Seasons Place residential project in Tseung Kwan O at a five-year low for the district.

About 900 households from two blocks at Wah Fu Estate will move to new homes by July 2027 at the latest in first stage of clearance for redevelopment of site.