How do you solve a 15-million-square-foot empty office space problem in Hong Kong, a size larger than all the space in existing prime office buildings in the city’s main business district in Central? This is the dilemma facing Hong Kong office landlords and asset managers, given the current vacancy rates and future supply of new…
The US stock rout is driving investors to Asian and European markets for alternatives. Chinese tech rally is boosting Hong Kong and European stocks amid trade war concerns. Thailand and Indonesia face stock declines due to local issues and US trade tensions. The rout in US stocks has sent investors scrambling for cover as they…
Hong Kong’s weakening retail sales and slumping property market have sharply reduced the capital values of commercial real estate owned by celebrities like Nicholas Tse Ting-fung and the family of the late “King of Gambling” Stanley Ho Hung-sun. The Macau tycoon’s property at 20 Kimberley Street, Tsim Sha Tsui, has been put up for sale…
Hong Kong’s weakening retail sales and slumping property market have sharply reduced the capital values of commercial real estate owned by celebrities like Nicholas Tse Ting-fung and the family of the late “King of Gambling” Stanley Ho Hung-sun. The Macau tycoon’s property at 20 Kimberley Street, Tsim Sha Tsui, has been put up for sale…
Hong Kong will press on with selling residential plots, the development minister has said, despite an earlier warning from a credit-rating agency that oversupply is hurting the property market. Bernadette Linn Hon-ho also said on Saturday that authorities would not give up on creating artificial islands in the waters off Lantau as part of plans…
The Hong Kong government has disputed a report by an American credit rating agency that described the local property market as suffering from oversupply, as officials stressed that the data showed there was strong housing demand. Authorities responded on Thursday after S&P Global Ratings published its report that said the government was not aggressively addressing…
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 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…
With Hong Kong’s annual budget in the works, we have been reminded of the many serious challenges facing the city. Our deficit is more than double the original forecast and the city’s gross domestic product last year was 2.5 per cent, a lower rate of growth than a forecast just months ago. Whether the worst…