The monthly mortgage repayment of homeowners in Hong Kong is expected to rise to 70 per cent of their monthly income by the end of this year – the highest level in nearly two decades – as mortgage rates kick upwards and home prices show no signs of ... ( read original story ...)
US Fed move piles pressure on Hong Kong’s mortgage rates
Interest rates in Hong Kong are continuing to shoot up at a rapid rate, reviving concerns among analysts that the highly valued local property market bubble could burst. Three-month Hibor, Hong Kong’s short-term interbank lending rate, has jumped by more ... ( read original story ...)
Hong Kong’s central bank raises base rate by 25 bps after Fed hike
The Hong Kong Monetary Authority (HKMA) raised the base rate charged through its overnight discount window by 25 basis points on Thursday to 2.25 percent after the U.S Federal Reserve raised interest rates by a quarter of a percentage point. Hong Kong ... ( read original story ...)
Hong Kong Hang Seng gains 0.13% after Trump-Kim agreement
Hong Kong stock market closed ... limited ahead of major central bank policy meetings. The U. S. Federal Reserve, the European Central Bank and the Bank of Japan will all hold meetings this week. The Hang Seng Index rose 0.13%, or 39.36 points, to close ... ( read original story ...)
Property agents abandon China’s resort island as sales plunge on cooling measures
HONG KONG (Reuters) - Tough measures to cool the property market in China’s resort island of Hainan have put the brakes on a real estate boom and underscore the policy risks developers and investors face as the government tries to rein in prices. ( read original story ...)
Outlook for residential property market in Hong Kong positive due to lack of supply
The current positive momentum in Hong Kong’s property market looks set to continue with the latest index showing that an expected rise in interest rates is not impacting optimism. A supply and demand imbalance is supporting both rents and prices in the ... ( read original story ...)
How Hong Kong’s housing crisis can be solved by thinking like Donald Trump
Pure insanity now rules our property market. Only doing the unthinkable can cure this madness. Slam shut our housing market door to all except Hong Kong identity card holders. Home prices will drop faster than a ton of bricks. But it takes Trump-like guts. ( read original story ...)
Tight squeeze for Hong Kong’s young professionals
Jezz Ng in a small living space in a co-sharing building in Hong Kong, where box-like 'nano-flats' and co-shares have been touted as fashionable solutions to eye-wateringly high property prices "If you're renting, you are spending all your money without ... ( read original story ...)
Details on vacancy tax for Hong Kong flat hoarders coming in June
“In Hong Kong, Legco’s approval is necessary for imposing any tax ... But real estate and construction sector lawmaker Abraham Razack said it would be unfair to target property developers’ new flats, arguing that only 3,000 were actually vacant. ( read original story ...)
Hong Kong’s ‘nano-flats’ for young professionals
Hong Kong’s real estate is the most expensive in the world, with median house prices at 19.4 times median incomes, the worst ratio globally according to the Annual Demographia International Housing Affordability Survey 2018. Property prices have been ... ( read original story ...)
Meituan mulls $6b IPO in Hong Kong
Customers wait to be served outside a restaurant next to a billboard of Meituan, a group-buying and takeout app, in Changzhou, Jiangsu province, July 17, 2016. [Photo/VCG] HONG KONG－Chinese mainland on-demand online consumer services platform Meituan ... ( read original story ...)
Jiangxi Bank Draws Citic, Dianrong to $993 Million Hong Kong IPO
Jiangxi Bank Co., a commercial lender in eastern China, is seeking to raise as much as HK$7.79 billion ($993 million) in a Hong Kong initial public offering. The company is offering 1.17 billion shares at HK$5.94 to HK$6.66 apiece, according to a Hong Kong ... ( read original story ...)
John Tsang, Hong Kong’s ex-finance tsar, is now a fintech evangelist
John Tsang Chun-wah made a name for himself in Hong Kong for a few things: he tried and failed to become Hong Kong’s chief executive in 2017; he was one of the longest serving financial secretaries in Hong Kong’s history; and he presided over an ... ( read original story ...)
Hong Kong raises interest rate by 25 basis points, matching US Fed move as higher cost of money sets in
Hong Kong’s monetary authority raised the city’s base lending rate for the second time this year, in lockstep with an overnight move by the US Federal Reserve to maintain stability in the local currency, as the ever-rising cost of money trend becomes ... ( read original story ...)