A unit of embattled Chinese developer Evergrande has failed to repay its loans and must pay a guarantor $1.1 billion, the company said in a Hong Kong stock exchange filing. ( read original story ...)
China’s Politburo to ensure delivery of unfinished homes to prevent mortgage-boycott crisis from escalating
The statement comes amid a mortgage boycott by homebuyers that has delivered another ... co-founder of MegaTrust Investment (Hong Kong), a boutique China asset manager. “What the real estate market ... ( read original story ...)
Hong Kong residential sales drop 22.2% to 4,826 units in June
There were 1,382 primary sales during the month. Sales activity in Hong Kong’s residential market slowed down in June. Knight Frank reveals there were a total of 4,826 transactions recorded, dropping ... ( read original story ...)
Hong Kong buyers flock to Novo Land in Tuen Mun in pre-emptive move ahead of city’s first prime rate increase in four years
Buyers on Saturday snatched up 78 per cent of the 336 units on offer at Sun Hung Kai's Novo Land development in Tuen Mun Demand was fuelled by steep discounts offered by the developer and speculation ... ( read original story ...)
Hong Kong finance chief says property market remains resilient
Hong Kong Financial Secretary Paul Chan said on Thursday the property market remains resilient although sentiment will be dented by increased mortgage payments amid higher interest rates. ( read original story ...)
Latest interest rates rise shows need to get Covid balance right in Hong Kong
They will have to weigh what they expect to save on the deal against the cost of higher mortgage repayments. Estimates of price falls of up to 20 per cent as higher rates kick in are only speculation. ( read original story ...)
Hong Kong home prices: worst yet to come, with up to 30 per cent slump a possibility as market enters decline
Will not be surprised if prices come down by 20 or 30 per cent, JLL chairman tells 2022 SCMP China Conference Hong Kong's prime rate set to revisit 2005 to 2007 levels of 7 to 8 per cent next year, ... ( read original story ...)
Indebted Chinese property developer Evergrande looks to sell Hong Kong headquarters again
Troubled Chinese property developer Evergrande has found a potential buyer for its Hong Kong headquarters, reports said Thursday, days before an expected announcement of the firm’s long-awaited ... ( read original story ...)
Hong Kong’s lived-in home prices slump to lowest level since December 2020 as caution prevails ahead of rate hike
The lived-in home index fell 1.1 per cent to 380.5 in June, the lowest since December 2020, according to data from the Rating and Valuation Department The 1.1 per cent price decline in June was the ... ( read original story ...)
Crisis-hit property giant faces deadline after bosses quit
Embattled Chinese real estate giant Evergrande is expected to deliver a preliminary restructuring plan this week, following the exit of two bosses. The firm says its chief executive and finance head ... ( read original story ...)
Hongkong Land (OTCMKTS:HNGKY) Share Price Crosses Below 50-Day Moving Average of $24.61
Hongkong Land Holdings Limited (OTCMKTS:HNGKY – Get Rating)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.61 and ... ( read original story ...)
Soaring construction costs may discourage Hong Kong’s developers from bidding aggressively for land
Higher costs driven by a surge in materials prices are likely to make property developers more restrained when bidding for land A government index showed building costs surged by 10.8 per cent last ... ( read original story ...)
Hong Kong property firm K11 taps Paddington Bear, KidZania for 11 Skies complex’s first entertainment offerings
The complex will feature more than 800 shops and over 120 dining options Project will redefine the concept of 'retailtainment' in Hong Kong, 11 Skies says The first four tourist attractions of New ... ( read original story ...)
Henderson Land targets bigger role in tackling Hong Kong’s housing problem
Henderson Land Development Co, one of Hong Kong's four major developers, plans to lend more land to the government to build transitional homes and is keen to help accelerate development of an area ... ( read original story ...)