Banks in Hong Kong are aggressively cutting property valuations as the city’s housing market weakens, threatening to fuel a downward spiral in prices, according to brokerage CLSA Ltd. “The banks’ asse... ( read original story ...)
With few takers on the property market, jittery individual owners cut prices by up to HK$800,000
Hong Kong’s property market is coming under stress. Jittery individual owners, aware of the risks from rising mortgage rates, turbulent stock market and weakening economic outlook, are offering massiv... ( read original story ...)
Flat sale results in Hong Kong offer proof that world’s priciest housing market is cooling off
LePont is one of the first projects to be sold after Hong Kong commercial banks raised benchmark lending rates for the first time in 12 years by 12.5 basis points last Thursday. The move effectively i... ( read original story ...)
Hong Kong home buying demand dampened by borrowing costs, trade war
The anticipation of further interest rate rises appears to be a factor weighing on the market, following the move last week by 11 local banks to tighten mortgage lending rates by 12.5 basis points. Ho... ( read original story ...)
UPDATE 3-Hong Kong banks raise benchmark lending rates for first time in 12 years
HONG KONG, Sept 27 (Reuters) - Hong Kong commercial banks raised their benchmark lending rates on Thursday for the first time in 12 years, increasing the cost of home mortgage repayments in one of the ... ( read original story ...)
Breakingviews – Fed helps Hong Kong homebuyers at owners’ expense
As tighter U.S. monetary policy feeds into Hong Kong mortgages, flat values look set to fall. That may open a door for younger residents, many of who have been priced out of world’s bubbliest property ... ( read original story ...)
Hong Kong property firms scramble to lure buyers as rate hikes loom
HONG KONG (Reuters) - Spooked by the prospect of rising interest rates, a slowing economy and a mounting supply of new apartments, Hong Kong developers are going all out to woo buyers, offering bigger ... ( read original story ...)
Property agents’ watchdog vows harsher penalties on errant brokers as it aims for orderly sales environment
The property market in Hong Kong is dominated by the sale of new homes in recent years with most of the transactions conducted by property agents. Crowds of salesmen are commonly seen at the sales sit... ( read original story ...)
Hong Kong’s Surging Dollar Sends a Warning on Housing Market
Surging interbank rates. A shock jump in the currency. Hong Kong’s decade-long liquidity party suddenly appears to be ending, and that can only be bad news for its expensive property market. The one-m... ( read original story ...)
Hong Kong Property Developers Sell Low on Rate Hike, More Supply
Property developers are cutting prices in Hong Kong to lure buyers amid the increasing downside risks in the world’s least-affordable housing market. Vanke Property Overseas Ltd. released 231 units of ... ( read original story ...)
Hong Kong Dollar Jumps Most Since 2016 as Borrowing Costs Rise
Lenders haven’t raised the prime rate, which affects the costs of mortgages, since 2006 but the chance of a hike is increasing, especially with the Federal Reserve expected to lift rates next week. “T... ( read original story ...)
First annuity payouts on way
Speaking at the Philanthropy for Better Cities Forum yesterday, Chan expressed his optimism about the scheme and the Reverse Mortgage program launched by Hong Kong Mortgage Corporation in 2011. He sai... ( read original story ...)
Four-Bedroom Home Goes on Sale in Hong Kong for $446 Million
There’s expensive, and then there’s Hong Kong property expensive. A four-bedroom house in the exclusive Peak neighborhood has hit the market for an eye-watering HK$3.5 billion ($446 million), which wo... ( read original story ...)
Hong Kong now home to more ‘crazy rich’ people than New York
Hong Kong now has the world’s highest concentration of ultra-high net worth residents, besting New York City, a new report from wealth consultancy Wealth-X revealed this month. Around 10,010 ultra-hig... ( read original story ...)