Hong Kong’s property market is poised for a broad-based recovery as a strong upturn in the residential segment spills over to the struggling office and retail sectors, according to analysts. Morgan Stanley upgraded its forecast for the city’s home prices to a 12 per cent increase this year from 10 per cent previously and anticipated…
Hong Kong property transactions surged to a four-month high in April, while the value and volume of home sales hit their highest level in 24 months, according to the latest official data, underscoring the resilience of the city’s real estate sector amid uncertainties over interest rates and the US-Israel war on Iran. A total of…
Hong Kong recorded more than 76,000 mainland Chinese visitor arrivals on the first morning of the five-day Labour Day “golden week”, with many heading to the countryside for scenic views and others opting for “city walks” to explore picturesque corners of the city. Some early arrivals headed straight to the countryside after getting off at…
Hong Kong expects about 980,000 mainland Chinese visitors over the Labour Day “golden week” holiday from May 1 to 5, a 7 per cent increase from last year. Instead of rushing through major attractions, many travellers are opting for slower, highly curated itineraries centred on exhibitions, neighbourhood walks and carefully timed photo spots – trends…
More than 50 restaurants and shops have joined a “tourism everywhere” initiative to promote Hong Kong’s bustling Central district among residents and tourists and boost local spending. The Hong Kong Small and Medium Enterprises Association on Friday revealed the programme to promote hidden delicacies and goods in Central, aligning with the government’s objective to turn…
A winning bid involving Henderson Land Development to operate a major Hong Kong harbourfront event space has expanded the developer’s footprint in Central to three prime locations, a situation that experts have said could result in greater accessibility and more visitors from surrounding commercial properties. Central Grand, a 50:50 joint venture formed by Henderson and…
A public inquiry into Hong Kong’s deadliest fire in decades heard that authorities and representatives of Wang Fuk Court homeowners took no proactive steps against alleged vote rigging at the subsidised housing estate. Jason Kong Cheung-fat, a former management committee member of the owners’ corporation at Wang Fuk Court, said on Monday that the abuse…
Hong Kong’s real estate market has come a long way in the past year. For a sign of the extent to which its outlook has improved, look no further than the rapid shift in expectations for the growth in house prices this year. As recently as January, Morgan Stanley characterised its prediction of a 10…
Hong Kong-headquartered Toys ‘R’ Us Asia has pivoted to an experience-focused format and smaller stores in the city following an expansion programme that sought to increase its outlets as it navigates the changing retail landscape. The group planned to close the year with 20 stores in Hong Kong, representing a 40 per cent rise from…
Hong Kong customs has arrested seven people in a citywide crackdown on party rooms offering suspected illegal karaoke sets with songs that infringed copyright. The operation, code-named “Magpie”, took place between March 16 and Wednesday this week and involved more than 100 officers, who raided 14 party rooms, a bar and the homes of two…