Wang Ruoshuo, a 21-year-old student from Hefei, the capital of central Anhui province, is searching for a flat in Hung Hom in southern Kowloon, which is close to her university and the company where she interns. As a first-time renter, however, she has been taken aback by the high prices. Wang and her friends are…
Sun Hung Kai Properties (SHKP), Hong Kong’s largest property developer, received more than 21,000 cheques for 329 units at its massive Sierra Sea residential project in the New Territories, indicating that attractive pricing can drive home sales in the city despite economic jitters, according to agents. The first round of sales on Saturday will feature…
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…
Home prices in Hong Kong’s secondary property market dropped for a third straight month in February to near the lowest in a decade amid concerns about slower cuts in interest rates and heightened tensions in global trade stoked by extra US tariffs on foreign goods. Lived-in home prices retreated 0.9 per cent in February from…
Hong Kong’s largest banks are likely to offer new mortgages to ease the burden on homebuyers amid elevated interest rates, but experts doubt that the trend would overcome the factors weighing down the struggling property market. HSBC, one of the city’s three currency-issuing lenders, unveiled on Wednesday new mortgage plans offering a fixed rate of…
Rental yields for Hong Kong residential properties have hit the highest level in more than a dozen years and are set to remain at an elevated level for two or three years, driven by robust demand from newly arrived residents and reduced mortgage costs, according to analysts. The average rental yield in the city inched…
Three luxury Hong Kong homes changed hands this week for between HK$49.4 million (US$6.36 million) and HK$114 million, an indication that well-heeled buyers have returned to the market for exclusive addresses as interest rates come down. Sebastian Paredes, the CEO of DBS Bank (Hong Kong), paid HK$49.4 million for a 1,249 sq ft, three-bedroom flat…
Property deals in Hong Kong fell to a seven-month low in September as homebuyers and investors stayed on the sidelines awaiting the start of a policy easing cycle, analysts said. “Major developers have been preparing to launch projects to capture the pent up demand following the interest rate cut,” said Eddie Kwok, the executive director…