{"id":4937,"date":"2017-09-19T12:09:14","date_gmt":"2017-09-19T04:09:14","guid":{"rendered":"https:\/\/www.spacious.hk\/en\/blog\/?p=4937"},"modified":"2019-10-30T11:00:47","modified_gmt":"2019-10-30T03:00:47","slug":"199-news-roundup","status":"publish","type":"post","link":"https:\/\/www.spacious.hk\/en\/blog\/199-news-roundup","title":{"rendered":"19\/9 News Roundup: Chinese home price increases slowing – investors should eye on other growing overseas property markets."},"content":{"rendered":"

Spacious’ View: Chinese home price increases slowing – investors should keep an eye on other growing overseas property markets.<\/span><\/strong>
\n<\/span><\/strong><\/h3>\n

 <\/p>\n

Smart home development wanted in Mong Kok<\/strong><\/p>\n

The Urban Renewal Authority (URA) has told developers to submit expressions of interest before next Wednesday for the development of a 14,951-square-foot project site at Reclamation Street\/Shantung Street in Mong Kok.<\/p>\n

The project is intended to provide about 187 residential units with a total floor area of 112,203 sq ft. There is also going to be 22,442 sq ft of commercial floor area. The site covers an area of 14,951 sq ft.<\/p>\n

Besides complying with provisions covering environmental sustainability the winning developer must meet smart provisions in respect of home energy and water consumption systems.<\/p>\n

The last URA project in the district is SKYPARK, which was won by New World Development five years ago.<\/p>\n

Spacious currently has 46 properties for sale and 84 properties for rent in Mong Kok. <\/span>Keen to see our inventory? <\/span>https:\/\/www.spacious.hk\/en\/hong-kong\/mong-kok<\/a><\/span><\/p>\n

Spacious has transaction data for the last 2,506 properties sold in Mong Kok.
\nJuly average price per square foot: HK$13,362, +8% MoM and +13% YoY
\nJuly sale transactions: 70 -28% MoM and +292% YoY
\nMore data on: <\/span>https:\/\/www.spacious.hk\/en\/hong-kong\/mong-kok\/transactions<\/a><\/span><\/p>\n

Seasonal glow disappears in Chinese home market<\/strong><\/p>\n

The property market does not appear generally bullish on the mainland’s so-called “Golden September and Silver October” peak season, with home price increases in 70 designated major cities slowing.<\/p>\n

With leaders working to reduce the heat in the property market, average prices for new homes in the 70 cities rose 0.2% in August from July, and there had been a 0.4% gain in July from June.<\/p>\n

In year-on-year terms, the National Bureau of Statistics also said yesterday, prices were up 8.3% in August compared with 12 months previously while the increase in July was 9.7%. That was when the two-year property boom was at its height.<\/p>\n

Prices in the four top-tier cities – Beijing, Shanghai, Guangzhou and Shenzhen – also kept cooling, the bureau noted. In fact, Shenzhen was starting to show a distinct downturn with 1.9% drop from last August.<\/p>\n

Instead of investing in China, Spacious recommends users to look for opportunities in other property markets which have better growth in the coming years. Click here<\/a> to explore more overseas properties from all around the world on Spacious.<\/strong><\/p>\n

For more information on property news and prices, please visit our website at https:\/\/www.spacious.hk\/<\/a> or follow our LinkedIn Page<\/a>.