Homebuyers in Hong Kong rushed to buy flats on Friday and Saturday in the city’s first two sales after the US raised interest rates, indicating no dip in the buoyant and expensive local property market. As of 5pm on Saturday, all 119 units on offer ... ( read original story ...)
Hong Kong’s fixer-upper tycoon pushes limit of property investing
Everyone told Goodwin Gaw not to do it. The sprawling shops, offices and homes complex in Beijing that private equity group Gaw Capital Partners had in its sights was a dud, property moguls said. Beneath the four towers of Pacific Century Place was a ... ( read original story ...)
Hong Kong’s Swire sells two office towers in Cityplaza development for US$1.9 billion
according to property firm JLL’s May Property Market Monitor, adding that demand mainly focused on eastern Hong Kong Island and the east of Kowloon, which accounted for around 76 per cent of the new lettings in May. Swire Properties saw its underlying ... ( read original story ...)
Hong Kong tracks US Fed rate hike, but impact on economy seen as limited
Hong Kong’s de facto central bank tracked the US Federal Reserve in lifting interest rates again on Thursday, but analysts said homeowners in the city’s red-hot property market would be cushioned from the impact for now. The US central bank on ... ( read original story ...)
Hong Kong’s Victor Li pays $1.3 billion for London office tower
Hong Kong tycoon Victor Li has bought a London office tower for 1 billion pounds ($1.3 billion) as he expands his overseas portfolio after taking over the business empire of his billionaire father Li Ka-shing. Property company British Land and a ... ( read original story ...)
US Fed policy compounds pressure on Hong Kong’s mortgage rates
Short term interest rates in Hong Kong are rising at a lively pace and reviving concerns among analysts that tightening financial conditions will challenge the highly valued local property market. Three-month Hibor, Hong Kong’s short-term interbank ... ( read original story ...)
Hongkongers will feel the squeeze as mortgage rates gain momentum
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 ...)