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Hong Kong’s expanded non-local student quota is worsening the supply deficit in housing, spiking home rentals.
Investors are converting discounted properties into student accommodation in Hong Kong, eyeing high demand and potential for growth.
Some lenders are offering cash rebates on mortgage financing, igniting competition for homebuyers in anticipation of a pickup in transactions
Hong Kong’s property developers kicked off a new round of price cuts to offload inventories after the US Federal Reserve gave its strongest hint yet about an imminent rate cut.
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Distressed sales in Hong Kong’s luxury property market have driven prices down by as much as 50 per cent, with opportunistic buyers snapping up bargains, Savills says.
Christopher Cheng, one of the three newly named co-CEOs, is a son of the Cheng family patriarch and billionaire Henry Cheng Kar-shun.
The HKMA’s investigation covered a period of five years up to October 2021, during which time WeChat Pay failed to implement adequate measures and controls.
The group has received a bid of HK$9 billion for its K11 Art Mall in Tsim Sha Tsui from a subsidiary of China Resources Holdings, according to a local media report.
Shanghai-based Shimao posted an interim loss of 22.7 billion yuan (US$3.2 billion) compared with 12 billion yuan a year earlier. Peers Kaisa, Fantasia and Sunac also struggled with poor home sales.
Black Spade Acquisition II will use the IPO proceeds to combine with targets in the entertainment, lifestyle and technology industries, particularly those related to AI.
The monthly rent for the 14,000 sq ft space at Asia Standard Tower in Queen’s Road Central is HK$1.25 million (US$160,220), 55 per cent lower than the all-time high in 2012.
Emerging markets in Latin America, the Middle East and Southeast Asia have growth potential but also carry risks for companies facing a price war at home and tariffs abroad, ratings agency says.
Hong Kong’s construction sector is facing challenging times with a financing gap that continues to widen, but a new start-up is offering relief to subcontractors, who are often the last to get paid for their work.
Homebuyers snapped up the flats offered by Wang On Properties at a residential project in Hong Kong’s Eastern district on Saturday, after the developer cut prices.
Three Sheep rents a 5,570 sq ft office for around US$23,000 a month as agents note an uptick in inquiries from mainland-based companies.
The 308 cases in the first half have already exceeded last year’s total of 261, according to Centaline. But buyers could be chased down by developers to pay the difference in resale prices, agent warns.
The sale comes a week after the chairman of distressed developer Agile Group, Chen Zhuolin, sold a Kowloon Tong flat for less than half the price paid six years ago.
Landlords in New Territories are probably the happiest lot as demand lifts rents to multi-year highs, a bright spot amid an otherwise gloomy property market.
Earnings at CK Hutchison and CK Asset weakened in the first half of 2024 amid global trade conflicts and property market slump at home, according to stock exchange filings.
The prices of the first 30 units in the Quarry Bay project are 32 per cent lower than the initial batch of Henderson Land’s The Holborn launched in 2021.
The 1,239 sq ft three-bedroom flat in Hamburg Villa in Kowloon Tong was sold for HK$14.3 million, 54 per cent less than the HK$31 million paid in 2018, agent says.
Logan Group and KWG Group Holdings signed a US$1.05 billion refinancing deal arranged by JPMorgan to roll over a loan due on August 25, sources said.
Gaw Capital and Hengli investments bought the buildings, known as Cityplaza Three and Four, for US$1.9 billion in 2019.
Stephan Horst Pudwill is said to be the buyer of 99, 101 and 103 Peak Road. The villas, which range from 4,627 to 5,067 sq ft, fetched HK$828 million, according to government records.
One of Hong Kong’s top commercial landlords reported a HK$1.1 billion (US$135 million) interim loss after booking a big erosion in the value of its investment properties.
Investors are targeting a 13 per cent annualised yield for the private deal on the loan that financed The Corniche in Ap Lei Chau, according to sources familiar with the matter.
Yeung and Lam like the Plantation Road area as they spent HK$2.8 billion in 2017 on a plot of land along Pollock’s Path, near their latest purchases.
The number of mortgage holders with negative equity fell 5.5 per cent to 30,288 at the end of June, from 32,073 at the end of March, according to HKMA data.
First-half net profit fell to HK$1.06 billion (US$135.7 million), from HK$2.39 billion a year earlier on lower rental revenues, higher costs.
The move by Hong Kong’s most valuable developer could herald more delays, as the discount war among competing builders gathers momentum amid deteriorating sales.
