Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
Hong Kong on Saturday saw its best weekend for new property sales in four months, with a total of 362 units expected to be sold across three projects, after the government lowered the stamp duty for small flats following the budget address on Wednesday. Among the first-round offerings, Henderson Land Development’s Eight Southpark project in…
Amid the flurry of measures announced in the budget by Financial Secretary Paul Chan Mo-po it was good to see the pledge to transform Hong Kong into a hub for international exchange and cooperation for artificial intelligence (AI). The plan to leverage technology to create a new economic driver would come with HK$1 billion (US$128.6…
Annual grants of HK$2,500 (US$321) for each of the nearly 800,000 students in Hong Kong will be cut, while spending on public universities will be slashed by HK$2.8 billion over the next three years, leaving parents unhappy about the way the government opted to tighten its belt. In an unprecedented move, the government also said…
Hong Kong homebuyers’ sentiment was mixed over the weekend as the city’s tepid property market awaits more supportive measures in the coming budget. China Resources Land (Overseas) and Poly Property sold five of the 136 flats offered at Pano Harbour in Kai Tak, the site of the city’s former airport, as of 5pm on Sunday,…
The Hong Kong government’s proposed adjustment to the controversial HK$2 (25 US cents) transport subsidy scheme for the elderly will fail to tackle the deficit and instead alienate the demographic, social policy experts have said. Nelson Chow Wing-sun, an emeritus professor at University of Hong Kong’s department of social work and social administration, was among…
Hong Kong’s homebuyers snapped up every flat on offer during a weekend sales launch on Saturday, as attractive prices amid a stock market rally bolstered sentiment in the city’s tepid property market. All 250 flats at Kerry Properties’ Hava project in Yuen Long were snapped up by 4.30pm, sales agents said. The flats, ranging from…
As Hong Kong grapples with an estimated budget deficit of nearly HK$100 billion (US$12.8 billion), Financial Secretary Paul Chan Mo-po has urged government departments to tighten their purse strings ahead of announcing his annual budget on February 26. His call has sparked concerns among some observers about the possible impacts of budget cuts, including higher…
Most of the Chinese University of Hong Kong’s reserves have specific purposes and cannot be redirected arbitrarily, its president has said, adding that he hopes possible government funding cuts will not affect the institution’s new initiatives. Professor Dennis Lo Yuk-ming on Thursday acknowledged the city’s financial challenges, saying the university was willing to go through…