More than half of middle-income households in Hong Kong believe house prices are poised to rally now that all of the restrictions in the market have been scrapped, according to a survey by Citibank.
Sales of the units, which ranged from 340 sq ft to 783 sq ft at HK$18,597 to HK$28,350 per square foot, were suspended after a red rain signal on Saturday.
Hong Kong’s property transactions came close to a three-year high in April, with 9,880 units changing hands according to official data, as the removal of cooling measures continued to boost demand.
Swire Pacific, which has made healthcare a key growth area, has completed the acquisition of a controlling stake in Shanghai-based cardiovascular treatment provider DeltaHealth.
A new wave of property stimulus measures is brewing that should fuel a recovery in market sentiment across China as the country’s top decision-makers pledged to tackle housing inventories, according to analysts.
The capital city has relaxed rules on multiple home purchases after 13 years as part of the country’s effort to stimulate a stubbornly stagnant property market.
The appetite of mainland Chinese firms for premium space was not enough to stem a steady increase in the vacancy rate as more office premises came online and overall demand shrank.
Hongkongers are less willing to buy homes amid price increases at new launches by developers, analysts said after Great Eagle Holdings announced a new higher price list for another 150 units at its Onmantin project on Monday.
Louis Vuitton is returning to Times Square, three years after the French luxury brand shut its store, a sign of a brighter outlook for Hong Kong’s luxury retail market.
High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.
Buoyed by the brisk sales of flats following the removal of Hong Kong’s property cooling measures, the city’s developers have this year launched 4,800 new units as of last week, a seven-year high.
The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.
Rising demand for data centres is unlikely to provide relief for Hong Kong landlords and asset owners looking to convert their empty office spaces into industrial property, US asset manager PGIM Real Estate says.
All 260 flats on offer at Onmantin were already on Saturday after the project received 7,500 orders from prospective buyers.
Prices of second-hand homes have increased for the first time in almost a year as the recent removal of cooling measures gave a much-needed boost to the beleaguered property market.
The first 18 office units have been priced from HK$7.2 million to HK$22.7 million, or around HK$12,000 to HK$14,000 per square foot, NWD said in a statement on Thursday.
Hong Kong’s economic recovery is slowly filling up retail spaces, pushing vacancy rates to a three-year low. The rebound, however, is bypassing the northwestern part of the city in Yuen Long and Sheung Shui.
Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.
‘It’s overall a pretty outstanding location, and pretty outstanding locations will be successful,’ Christian Ulbrich says.
Hang Lung Properties is targeting discerning Chinese consumers’ penchant for luxury goods as it prepares to undertake the expansion of its flagship mall in Shanghai.
Some analysts have expressed concern that buyers may hesitate to purchase homes should the rate cut not materialise this year.