Now comes a massive, citywide consultation on where and how to find land. The sky is the limit for runaway property prices in Hong Kong. To make matters worse, while building micro flats has become the new trend under the excuse of making housing more ... ( read original story ...)
Hong Kong’s monetary authority should raise interest rates now to buffer the market – while it can
After 1997, Hong Kong’s property price dove by 75 per cent over the following six years. The political pressure forced the government to contract supply, which massively exaggerated the subsequent upcycle, causing political pressure on the other end. ( read original story ...)
Hong Kong Looks Underground to Free Up Land for New Housing
Hong Kong may dig deep to reverse the city’s chronic shortage of land for building, adding underground caverns to the mix of options aimed at creating more housing in the world’s most expensive property market. It’s an option, according to a ... ( read original story ...)
Hong Kong Peninsula Estate Hits Market for HK$280M
A rare residential property with panoramic sea views in Kowloon, one of the three main islands in Hong Kong, has hit the market for the first time in over 30 years, asking HK$280 million (about US$35.68 million). Located on the northeast point of Little ... ( read original story ...)
Hong Kong Currency Defense Kills Fixed-Rate Mortgage Market
Hong Kong’s banks, blindsided by rising funding costs due to the city’s costly defense of its currency peg, are clamping down on popular fixed-rate mortgages. These loans were provided at 1.68 percent for the first year of a new mortgage, lower than ... ( read original story ...)
What Can I Expect from Hong Kong Property Taxes?
Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q: I am trying to get the full financial picture of buying in Hong Kong, where real estate prices are sky high. What is the property tax there like? ( read original story ...)
After Li Ka-shing, Hong Kong’s property tycoons inherit tough market
HONG KONG -- According to a legend passed around among Hong Kong's laborers, the city is protected by an invisible force field that keeps tropical storms from coming ashore during the workday. The source of this supernatural power, they say, is business ... ( read original story ...)
Construction of Hong Kong’s ‘shoebox’ flats soars along with prices
But Wong Leung-sing, associate director of research at the property consultancy firm Centaline, said the boom in nano flats was not an issue. “Many young people want to live independently and they prefer smaller flats,” Wong said. “Hong Kong is a ... ( read original story ...)
Hong Kong’s property bull market still intact, prices to rise another 10pc in 2018, analysts say
Hong Kong’s housing market is not signalling the exuberance normally associated with a bubble, according to analysts, who say further price gains should be expected this year, even as starter homes have already become unaffordable for some young buyers. ( read original story ...)
HK property prices expected to rise up to 10pc
Colliers International, a US based real estate service company, expects an 8 to 10 percent price growth for Hong Kong mass residential property and a 3 to 5 percent growth for luxury property market in 2018. Overall, Hong Kong property market will remain ... ( read original story ...)
Hong Kong Dollar Touches Key Level for First Time Since 2005
Hong Kong’s dollar fell to the weak end of its permitted band for the first time since the range was imposed in 2005, a warning sign for a city where easy money has stoked a property boom and underpinned the stock market’s record rally. The spot rate ... ( read original story ...)
Hong Kong man arrested for carrying air gun on MTR and stealing police property on April Fool’s Day
A 21-year-old man accused of carrying an air gun on a Hong Kong MTR train and stealing a police book on April Fool’s Day was arrested on Monday. The Hongkonger, who is unemployed, was detained at about 6pm after police raided his home in Sheung Shui. ( read original story ...)
Anger as top 10 landlords in Hong Kong enjoy rates rebate of HK256 million
The top 10 landlords in Hong Kong – who own about 40,000 property units among them – will benefit from rates waivers of more than HK$256 million (US$32.8 million) this financial year, reigniting criticism the government was once again favouring the rich. ( read original story ...)
Cross-border tech and taxes: the big Hong Kong debates at Boao’s Greater Bay Area brainstorming session
“Even if all vehicles from Hong Kong and Macau were visiting Guangdong, we could manage,” he said. Leung, who is now chairman of property giant Nan Fung Group, also said the mainland should set up “trial international health care zones” for Hong ... ( read original story ...)