Affluent Hong Kong investors – from the former CEO of the Hong Kong stock exchange to the chairman of Great Eagle Holdings – have been snapping up residential properties, despite doubts by many prospective homebuyers that prices of flats across the city have hit bottom. Francis Yuen Tin-fan and his wife Rose Lee Wai-mun spent…
Hong Kong’s home sales remained above the 5,000 level for the sixth consecutive month in August, further strengthening the view that the city’s residential property market may have bottomed out. A total of 5,291 homes were transacted last month, according to data from the Land Registry on Tuesday, continuing a run above 5,000 that started…
The executive director and CEO of Hang Seng Bank has bought a home in Hong Kong’s Tai Hang district, joining a growing coterie of financiers on the hunt for high-value residential property that has helped to drive the city’s lived-in home prices to a five-month high. A lived-in flat measuring 1,193 sq ft (110.8 square…
The Law Society of Hong Kong has bought an entire floor of offices in what was formerly the world’s most expensive tower at a 50 per cent discount, the latest among astute investors who are picking up property in the city at bargain prices. The Law Society paid HK$345 million (US$44 million), or HK$14,000 per…
Hong Kong’s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last…
Hong Kong’s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last…
Hong Kong’s housing market is poised for a gradual recovery starting in the second half of this year, as population inflows, falling interest rates and a rebound in rental demand restore confidence, according to Bocom International. The investment bank said home prices could rise by 3 per cent over the next six months, followed by…
A 3,349 sq ft, four-bedroom unit in Grenville House, located at 3 Magazine Gap Road in Mid-Levels, was sold on Tuesday, according to Land Registry records. Shirley Shiao Ping Peng and William Peng Shih-Hsiao appear to be the directors of the acquiring firm, Noble Gather, according to the Companies Registry. Shirley Peng is the sister…
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…
Lower mortgage rates lifted home sales in Hong Kong to their highest point in five months in October, reversing a two-month decline, according to Land Registry data. A total of 4,697 new and lived-in homes with a cumulative sales value of about HK$37.3 billion (US$4.8 billion) changed hands in October, rising 65 per cent from…