government

6/14 News Roundup: Chevalier Won URA’s Tai Kok Tsui Project, URA Improves Payment for Rehousing Tenants

Chevalier Won URA’s Tai Kok Tsui Project The Urban Renewal Authority announced yesterday that Chevalier Pacific Limited, a wholly owned subsidiary of Chevalier International Holdings Limited, has won the contract for the development of Fuk Chak Street-Li Tak Street demand-led redevelopment project in Tai Kok Tsui. The project site, which covers an area of 8,267 square feet, commenced in June …

Asif Ghafoor - June 14, 2017

6/6 News Roundup: Chan Refused to Scale Back Property Cooling Measures, Martin Lee Doesn’t See Market Bubble

Chan Refused to Scale Back Property Cooling Measures Property cooling measures will not be scaled back, Financial Secretary Paul Chan Mo-po says, adding the move may be misinterpreted as a government effort to boost the overheated home market. Speaking at the Legislative Council, Chan also warned that there are risks for people who borrow titles of friends and relatives to …

Asif Ghafoor - June 6, 2017

4/12 News Roundup: Stamp Duty Policy Tightened for Multiple Flats Loophole, Eight Regency to Announce Price List Later

Stamp Duty Policy Tightened for Multiple Flats Loophole The government has further tightened its housing policy by announcing yesterday that if a buyer acquires more than one flat using just one document, the properties will be subject to a 15% stamp duty. The move, which came into effect from midnight, is aimed at plugging a loophole in which locals can …

Asif Ghafoor - April 12, 2017

4/6 News Roundup: March Home Sales Rose 43.6%, Government Warning on Multi-flat Stamp Duty Loophole

March Home Sales Rose 43.6% Sales of residential units in the secondary and primary markets in March rose 43.6%, to 5,856, according to the Land Registry, whose data showed total transaction value for residential units alone was HK$50.4 billion last month, 38.2% higher than February. The number of transactions in the secondary market jumped 71% to 4,085 deals in March …

Asif Ghafoor - April 6, 2017

2/3 News Roundup: HIBOR Unlikely to Follow US Rate’s Hike, Island Garden Launched 50 Flats with Extra Discount

HIBOR Unlikely to Follow US Rate’s Hike The US Federal Reserve held interest rates unchanged in its first meeting since US President Donald Trump took office. Hong Kong Monetary Authority has reminded local banks, corporations and individuals “to remain vigilant and manage risks prudently” as the gradual normalization of US interest rates may affect global capital flows, exchange rates and …

Asif Ghafoor - February 3, 2017

12/30 News Roundup: K Wah Won Kai Tak Plot for HK$5.8b, Hong Kong Set to Exceed Housing Supply Target

K Wah Won Kai Tak Plot for HK$5.8b K Wah International Holdings Ltd. has won Kai Tak Area 1K Site 2 for HK$5.868 billion, which lines at the upper limit of market expectation. The site has a total gross floor area of 574,270 square feet, putting it at about HK$10,200 per square foot – over 20% cheaper than the cost …

Asif Ghafoor - December 30, 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 …

Asif Ghafoor - December 15, 2016