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What ails Hong Kong’s property market?

Property

Hong Kong & China

Why rate cuts won’t save cash-strapped Hong Kong tycoons and their luxury properties

 Credit: Henry Wong

The Frank Gehry-designed Opus Hong Kong building. Photo: Handout

15 Gough Hill Road on The Peak. Photo: SCMP/May Tse 

Chen Hongtian in 2016. Photo: SCMP/Xiaomei Chen

All across Hong Kong – from The Peak to South Island and elsewhere – high-net-worth individuals have found themselves caught in a tight spot between their ritzy, overleveraged properties and a quickly draining pool of liquidity.


In Hong Kong’s commercial real estate market, ‘everybody has their own fair share of pain’

Illustration by Henry Wong 

Cubus, a mixed-use building in Causeway Bay. Photo: Sun Yeung

Pedestrians walk on Russell Street in Causeway Bay. Photo: Sun Yeung

Plaza 2000 on Russell Street in Causeway Bay. Photo: Sun Yeung

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.


How eager are banks to ‘call’ mortgage loans and what are your options if they do?

People enjoy a park in Kai Tak near the Oasis Kai Tak residential development on July 7, 2024. Photo: Yik Yeung-man

A real estate agency in Tai Koo shows discounted home prices. Photo: Eugene Lee

Property above Kowloon Station in West Kowloon, pictured on February 27, 2024. Photo: Jelly Tse

What to know about when and why a bank might call your loan, and why falling interest rates create more options for strapped borrowers.


5 famous, hidden billionaires are new owners on The Peak amid Hong Kong debt crunch

An aerial view of a residential building on Peak Road. Photo: Roy Issa

No. 46 Plantation Road, on The Peak. Photo: Xiaomei Chen

25–26 Lugard Road. Photo: SCMP Pictures

99-103 Peak Road. Photo: Google

10 Black’s Link. Photo: Handout 

The Opus Hong Kong building. Photo: Handout 

Rare fire-sale deals in Hong Kong’s exclusive residential enclave have brought famous and hidden tycoons to the fore.


In this series, we look at how the prolonged high interest rates have affected the city’s luxury property market and commercial real estate.


Series

What ails Hong Kong’s property market?

In this series, we look at how the prolonged high interest rates have affected the city’s luxury property market and commercial real estate.

These wealthy Hongkongers want cash and need to sell their properties in a flash

All across Hong Kong – from The Peak to South Island and elsewhere – high-net-worth individuals have found themselves caught in a tight spot between their ritzy, overleveraged properties and a quickly draining pool of liquidity.

Hong Kong’s depressed commercial property market burns tycoons, investors

Hong Kong’s commercial property market has buckled under the crushing weight of China’s economic malaise, an exodus of global firms, a supply glut and high interest rates.

Explainer | Why banks ‘call’ mortgage loans, and what your options are if they do

What to know about when and why a bank might call your loan, and why falling interest rates create more options for strapped borrowers.

New roster of owners on The Peak as famous and hidden tycoons steal bargains

Rare fire-sale deals in Hong Kong’s exclusive residential enclave have brought famous and hidden tycoons to the fore.