Hong Kong’s property sales increased to the highest level in four months in March, as a resurgent stock market and a lower tax scheme for homes spurred sentiment, according to two of the city’s largest agencies. Sales of new and lived-in homes, shops, office units, car parking spaces and industrial properties jumped by 55 per…
How do you solve a 15-million-square-foot empty office space problem in Hong Kong, a size larger than all the space in existing prime office buildings in the city’s main business district in Central? This is the dilemma facing Hong Kong office landlords and asset managers, given the current vacancy rates and future supply of new…
Hong Kong’s weakening retail sales and slumping property market have sharply reduced the capital values of commercial real estate owned by celebrities like Nicholas Tse Ting-fung and the family of the late “King of Gambling” Stanley Ho Hung-sun. The Macau tycoon’s property at 20 Kimberley Street, Tsim Sha Tsui, has been put up for sale…
Hong Kong’s weakening retail sales and slumping property market have sharply reduced the capital values of commercial real estate owned by celebrities like Nicholas Tse Ting-fung and the family of the late “King of Gambling” Stanley Ho Hung-sun. The Macau tycoon’s property at 20 Kimberley Street, Tsim Sha Tsui, has been put up for sale…
Hong Kong has awarded Singapore’s Mapletree Investments a 50-year land grant to a parcel of land in the New Territories for about HK$3.68 billion (US$473 million), according to the Lands Department on Tuesday. Mapletree’s unit Titanium 2 was the sole bidder for the 44,318-square-metre (477,000 sq ft) logistics site in Tsing Yi following a tender…
By 2030, around one in four Singaporeans will be aged 65 or above, up from one in 10 in 2010, according to official data. In Hong Kong, the percentage of the city’s population that is considered elderly is expected to rise to 36 per cent by 2046 from 20.5 per cent in 2021, according to…
Hong Kong’s office market is likely to trail other segments in terms of recovery as interest-rate cuts and easier mortgage financing rules drive bigger interest and deals in the residential and retail properties, analysts said. Office vacancy rates continued to worsen last month in more business districts in the city including Central, Wan Chai, Causeway…
A religious group is selling Hong Kong residential properties at an accelerated pace, cashing in HK$110 million (US$14 million) amid increasing activity in the housing market now that the cost of borrowing has started to decline. Watch Tower Bible and Tract Society of Pennsylvania, associated with the Christian denomination known as Jehovah’s Witnesses, sold 11…
“We are seeing increased interest in big-ticket deals in the market following the start of the rate cut, coupled with deeper price discounts, [and] end users and long-term investors are gaining confidence to enter into buying positions,” said Reeves Yan, executive director and head of capital markets at the commercial property company. “Further rate cuts…
In the second of a two-part series, Jiaxing Li, Aileen Chuang and Salina Li explore the effects of high interest rates and other factors on the city’s commercial property market. In the heart of Causeway Bay, a bustling Hong Kong shopping district that was once a more expensive retail destination than Fifth Avenue in Midtown…