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…
Hong Kong banks were likely to be more selective in extending credit to developers amid a prolonged property slump that could pose a “major risk” to lenders, according to Moody’s Ratings. Banks’ property development and investment loans accounted for 16 per cent of their total lending as of June, the credit-rating agency said in a…
Hong Kong developers will continue to price their swollen inventory of new flats at discount prices to attract buyers in 2025 as hopes of lower interest rates fade and concerns grow about a liquidity crunch among builders. “Expecting interest rate cuts to support the property market is unlikely for this year,” said Chau Kwong-wing, chair…
New World Development (NWD) on Saturday recorded a sell-out at its State Pavilia project in North Point, as “enthusiastic” Hong Kong homebuyers brushed aside the raised prices of the batch of units offered this weekend. As of 6.22pm, NWD – controlled by the family of chairman Henry Cheng Kar-shun – sold out all of the…
Feb 15, 2025 The latest offering from New World Development (NWD) in North Point has seen remarkable interest from Hong Kong homebuyers, quickly selling a significant number of flats. As of 3pm, 103 out of the 168 units at State Pavilia were snapped up by eager buyers, as reported by South China Morning Post. This…
The default of a major Hong Kong property developer could send shock waves through the broader sector and scuttle a potential recovery in the residential market, according to S&P Global Ratings. “Hong Kong’s residential property recovery may be slipping out of view,” the credit-rating agency said in a report on Thursday. “S&P Global Ratings believes…
Hong Kong’s lived-in home prices fell in December to complete three straight years of setbacks, as geopolitical and inflation risks clouded the prospects for more interest-rate cuts by global central banks. Prices in the secondary market declined 0.65 per cent last month, following gains in October and November, according to data published by the Rating…
Jan 23, 2025 Hong Kong’s property market faced significant challenges in 2024, with mortgage registrations plummeting to their lowest levels since records began in 2000. According to Centaline Property, only 47,917 mortgages were registered for a variety of assets including private flats, home-ownership scheme flats, parking spaces, and commercial facilities. This downturn in mortgage activity…
Investors in Hong Kong are bracing for a Year of the Snake full of uncertainties and some market participants are looking to artificial intelligence (AI) and feng shui masters to determine what lies ahead. The Hang Seng Index will be flat in the first quarter, it will rise in the second quarter and will decline…
Homebuyers flocked to a new residential project by Early Light International Holdings in Hong Kong’s New Territories on Saturday, drawn by its value for money and investment potential ahead of the inauguration of US president-elect Donald Trump. As of 3.30pm, 179 of the 280 units offered at The Reserve at Gold Coast Bay in Tuen…