A local pharmacy has emerged as the newest tenant on Russell Street in Causeway Bay, filling the space previously leased by Italian luxury lingerie brand La Perla to take advantage of a 46 per cent slump in rents in one of Hong Kong’s costliest retail strips. Yu Shing, the pharmacy owner, is expected to pay…
The escalating trade war between China and the US is dampening the sentiment of mainland Chinese homebuyers in Hong Kong, as macroeconomic uncertainties and currency depreciation risks weigh on the housing market, according to experts. “Hong Kong’s property market very much depends on the economy, which will inevitably be affected by the tariffs and the…
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…
representative image HONG KONG: Hong Kong’s home prices declined for a third month in February to a nearly nine-year low, government figures showed on Thursday, as the ailing property market struggled to find support amid a weak economic outlook. By the numbers Private home prices fell 0.9% in February from the month before, following a…
Hong Kong celebrities like Stephen Chow and Andy Lau have recently seen the estimated rental values of their luxury properties rise as the city’s leasing market continues to improve, according to new government data. The rateable value of actor and filmmaker Stephen Chow’s house at 12 Pollock’s Path on The Peak rose 2.7 per cent…
The Hong Kong government’s 12-month halt on the sale of commercial land will have limited effect in easing the supply glut in the city’s offices, as the moratorium does too little too late to slow the biggest onslaught of newly completed space in 17 years, according to several consultants. “Taking into account the high vacancy…
The Hong Kong government’s 12-month halt on the sale of commercial land will have limited effect in easing the supply glut in the city’s offices, as the moratorium does too little too late to slow the biggest onslaught of newly completed space in 17 years, according to several consultants. “Taking into account the high vacancy…
Hong Kong office landlords are increasingly in a “defensive” position amid a supply glut that is driving tenants to upgrade to better and cheaper locations and facilities, according to analysts. “The flight to quality of existing tenants within Hong Kong is absolutely going to continue with all the new supply coming in the next three…
Beijing resident Evelyn Lin paid US$274,000 for a flat in Bangkok in 2018, hoping to use the property as her home when she spends holidays in the Thai capital. However, the recent spate of kidnappings of mainland Chinese and the trafficking of Hong Kong residents to scam farms in nearby countries are keeping her away…
The outlook for Hong Kong’s residential market is divided among analysts, with one consultancy forecasting prices to fall amid oversupply concerns, while two others expect prices to rise because of falling interest rates and improved stock market performance. Property consultancy JLL expects home prices to fall by up to 5 per cent, even as rivals…