Decoding global real estate trends and investment opportunities
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.
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 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.
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.
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.
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.
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?
Investment in Hong Kong commercial property this year is likely to fall 65 per cent year on year to HK$26 billion (US$3.33 billion), a 15-year low, as a slow economic recovery in the city and mainland China as well as elevated interest rates weigh on sentiment, Colliers says.
However, prices are not likely to see a sharp upswing because of high interest rates, according to luxury property agency’s founder Victoria Allan.
China is striving to establish a high-quality inclusive financial system over the next five years, although its financial stability is under pressure from the ongoing property crisis triggered by Evergrande and Country Garden.
The Hong Kong government will tender only a single parcel of land in the current quarter, as sales have been scaled down because of poor response and prevailing market conditions.
An imminent decline in global interest rates should boost housing markets, but any improvement in Hong Kong could be delayed until there is a broader recovery in the local and wider Chinese economies, Knight Frank’s Liam Bailey says.
China Evergrande said that the detention of personnel from Evergrande Wealth Management, its wholly-owned subsidiary, ‘will not affect the company’s operations’.
PGIM Real Estate has invested US$400 million in the housing rental markets in Hong Kong, mainland China and Australia, as the US asset manager sees huge growth in these segments and opportunities to snap up assets at deep discounts.
More than a fifth of office tenants in Hong Kong may downsize their space requirements with some looking to relocate to mainland China, Singapore and other parts of the world as they cut costs in a weak economic environment, a study released by Colliers revealed on Wednesday.
New World Development sold more than 10 billion yuan (US$1.37 billion) worth of residential projects in mainland China in the first eight months of the year, the company said in a statement on Monday.
Lying vacant in mainly rural areas, Japan’s 8 million or so akiya can often be snapped up for a fraction of the price of a new or lived-in property in a housing market that is already cheap compared to many others in the region.
However, the sector faces a challenge: while the number of visitors has been increasing, more Hongkongers have been travelling outside the city, shifting their purchasing power elsewhere, says Cushman & Wakefield report.
Most of the new units on Saturday came from Villa Garda III in Tseung Kwan O, which sold 73 of the 138 put up for sale.
Tokyo occupies second place and Manila is third in a quarterly ranking compiled by the property consultancy, while Hong Kong falls one spot to 35th on the list.
Built by spice and gem tycoons in the years leading up to World War II, the grand old mansions of Chettinad are now mostly abandoned, rundown and dilapidated – though a precious few hold on.
Dedicated high-spec developments at more affordable prices are a part of the appeal as tech’s biggest names site campuses away from Silicon Valley