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12/19 News Roundup: 14 Secondary Home Transactions Over Weekend, The Long Beach Boosted Primary Home Sales

14 Secondary Home Transactions Over Weekend Data showed that only 14 transactions were tracked in 100 main housing estates over the weekend, half the number of the previous weekend, while some large estates recorded zero transaction, including Kornhill, South Horizons, Laguna City, Whampoa Garden, City One Shatin and Caribbean Coast. Meanwhile, a 482-square-foot flat in Tai Koo Shing was sold […]

December 19, 2016

12/16 News Roundup: Property Shares Plunged After US Fed's Rate Hike, November's Stamp Duty Cases Surged

Property Shares Plunged After US Fed’s Rate Hike Shares plunged in Hong Kong yesterday led by property firms, following the US Federal’s decision to raise interest rates and the possibility that there might be three rate increases next year.. The Hang Seng Index dived 1.77% to 22,059.40 while HSI – Properties dropped 2.6% at the close. Among all the property shares, […]

December 16, 2016

12/15 News Roundup: HK Raised Base Rate by 0.25%, Following US Fed's Move; Far East Sha Tau Kok New Project To Roll Out Next Year

HK Raised Base Rate by 0.25%, Following US Fed’s Move The US Federal Reserve announced that the benchmark interest rate would rise by 25 basis points, boosting federal fund rates to a target range of between 0.5 and 0.75 per cent, up from 0.25 to 0.5 per cent since December 2015. Fed Chair Janet Yellen expected three further rise in […]

December 15, 2016

12/14 News Roundup: The Zumurud Gives HK$1.68m Gifts to First Five Buyers, Second Hand Home Prices Soar

The Zumurud Gives HK$1.68m Gifts to First Five Buyers Cheung Kong Property Investment Director Wong Sze-chung said the company is offering first-class air tickets to Paris and five-stars hotel stays for the first five buyers of its project in Ma Tau Kok – The Zumurud. The promotion will begin on Friday until January 2. The developer will also be giving […]

December 14, 2016

12/13 News Roundup: Standard Chartered Cuts Mortgage Rate to H+1.33%, City One Shatin Price Soars To One-year High

Standard Chartered Cuts Mortgage Rate to H+1.33% According to source of Sing Tao Daily, Standard Chartered has cut its mortgage rate to 133 basis points above the Hong Kong Interbank Offered Rate (HIBOR), for loans of at least HK$8 million, offering the cheapest loan in the city. Meanwhile, Bank of China (Hong Kong) is offering mortgage rate of 140 basis […]

December 13, 2016

12/12 News Roundup: Metro City & Dawning Views Carparks Set Record Prices, 26 Transactions Recorded in 100 Main Estates

Metro City & Dawning Views Carparks Set Record Prices Carparks in Tseung Kwan O’s Metro City and Fanling’s Dawning Views transacted in all-time high prices yesterday. A parking space in Metro City Phase 2 was sold at HK$1.2 million, 11% higher than the original record in HK$1.08 million. Meanwhile, two parking lots in Dawning Views were both sold at HK$1.28 million, 6.7% more […]

December 12, 2016

12/9 News Roundup: Central Office Rents Rank First in the World, Eden Manor Targets At Mainland Buyers

Central Office Rents Rank First in the World Hong Kong’s office rents in Central surged to the world’s highest this year. Hong Kong ranks No 1 in terms of the world’s highest rent for a premium office, with London and New York in second and third place respectively, according to JLL’s latest Global Premium Office Rent Tracker. The price of […]

December 9, 2016

12/8 News Roundup: IMF Warns Possible Downturn in HK Property Market, Tin Shui Wai HOS Flat Sold For HK$10,085 per sqft

IMF Warns Possible Downturn in HK Property Market The International Monetary Fund (IMF) announced its annual assessment of Hong Kong economy yesterday. It identified one of the main risks Hong Kong facing is the possible downturn of property market due to the rising interest rate, resulting in adverse effect on the local economy. IMF supported the cooling measures adapted by […]

December 8, 2016

12/7 News Roundup: 1,900 New Homes Ready For Sale Early Next Year, Public Estate Carpark Sold At HK$1.165m

1,900 New Homes Ready For Sale Early Next Year The government’s cooling measures have been affecting property developers’ plan on launching new projects. Several new projects including Sun Hung Kai’s The Pavilia Bay in Tsuen Wan and Mount Pavilia in Clear Water Bay; Cheung Kong’s Crescendo in Yuen Long San Tin and Ocean Pride in Tsuen Wan West; and Kerry’s […]

December 7, 2016

12/6 News Roundup: Kai Tak Site Winner Pledged Shares For Loans, Public Houses Sold In High Prices

Kai Tak Site Winner Pledged Shares For Loans The controlling shareholder of HNA Holding Group (521) pledged nearly all of its stake in the firm as security for a loan – a month after the group paid a jaw-dropping HK$8.84 billion for its first residential site in Hong Kong. Hong Kong HNA Holding Group, has pledged 56.11% or 6.39 billion shares in the […]

December 6, 2016

12/5 News Roundup: Private Domestic Supply To Soar Next 3 Years, SHK Refuses to Build Tiny Flats

Sing Tao: Private Domestic Supply To Soar Next 3 Years According to government’s latest internal statistics, the completion of private domestic units will remain high in the next three years, reaching 22,000 to 25,000 per year, the local newspaper Sing Tao Daily claims. The supply will expand to 24,000 soonest next year and the source claimed that it would reach […]

December 5, 2016

Luxury Homes Price Up After Cooling Measures, The Long Beach Receives 4,333 Subscriptions

Luxury Homes Price Up After Cooling Measures The cooling measures started weeks ago seem to have minor impact on luxury home market. Several luxury projects even priced up after consecutive transactions. The Grampian in Kowloon Tong recorded the first transaction recently, while the developer Hanison announced that the price of Unit 2A will be priced up for 5%, from HK$60 […]

December 2, 2016

Chun Wo To Release Tiniest Flat in Town, Local Home Prices Hit One Year High

Chun Wo To Release Tiniest Flat in Town Chun Wo Property Development Holdings, a unit of Asia Allied Infrastructure Holdings, is building the city’s tiniest flat. Inspired by the concept of student quarters, the company’s soon-to-be released project, TPlus, in Tuen Mun includes studio flats with sizes ranging from 128 square feet, the smallest in Hong Kong and even smaller than […]

December 1, 2016

Amoy Garden Small Unit Sold at HK$4.08m, New Home Curbs Launched in China Main Cities

Amoy Garden Small Unit Sold at HK$4.08m A 255 sellable square feet flat at Amoy Gardens in Ngau Tau Kok was sold for HK$4.08 million or HK$16,000 per square foot. It is the second most expensive small unit sold from the estate. Meanwhile, a 431-square-foot two-room unit in Rhythm Garden was sold at HK$6.28 million or HK$14,571 per square foot, […]

November 30, 2016

Mainland Buyer Paid 40% Tax For Sheung Shui Luxury Home, Chinese Buyers Snapped Up 8 Units From Mantin Heights

Mainland Buyer Paid 40% Tax For Sheung Shui Luxury Home Mainland buyers continue to invest in Hong Kong’s luxury homes. A Mainland buyer purchased a 1,022-square-foot three-room unit in Sheung Shui’s Woodland Crest for HK$9 million, or HK$8,806 per square foot. In addition to the 15% buyer’s stamp duty and 15% double stamp duty, the buyer is willing to pay the […]

November 29, 2016

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