According to JLL, rapid U.S. rate hikes, a fifth wave of Covid-19 and ongoing weakened economic outlook have triggered the downturn in Hong Kong's housing market in late 2022.
A Detached House at Hong Kong’s Shouson Peak Asks HK$298 Million
One of the two houses available for sale at the celebrity-studded new development Shouson Peak in Hong Kong has come to the market for HK$298 million (US$38.3 million). The house has approximately ...
Will Hong Kong developers pass savings from low land prices on to homebuyers? Don’t hold your breath, insiders advise
If anything, the opposite is true, as current and expected home prices act as an important indicator for developers when they are bidding on land Homebuyers in Hong Kong may think it is a good sign ...
Hong Kong Property Giant Buys Land for Price at Eight-Year Low
A leading Hong Kong developer has won a bid for land in a traditionally expensive area for the lowest price in eight years, in another sign of the city’s weakening real estate market.
Hong Kong’s housing market worsens
Hong Kong’s housing market conditions are deteriorating again, amidst struggling economy. Hong Kong’s inflation-adjusted residential property prices plunged by 12.82% in Q3 2022 from a year earlier, ...
Market Leader in Hong Kong’s Luxury Housing Sector Confident About Weathering Market Downturn
Amid the city-wide COVID-19 outbreak peak in H1 along with the impact of the global economic recession, the luxury residential market has not been immune to the consequences of the ...
Hong Kong’s Commercial Property Market to See Further Corrections in Early 2023
According to JLL's newly released Hong Kong 2022 Year-End Property Market Review and 2023 Forecast, the recovery of Hong Kong's property market remained stagnant in 2022 with the downward trend across ...
Hong Kong landlord linked to Chinese Estates sues I.T Group companies for US$3.2 million over unpaid rent
The owners of shops in the Silvercord shopping centre on Monday sued companies related to I.T Group for unpaid rent and other fees Legal action to recover unpaid rent has spiked since a moratorium on ...
Two Chinese property developers to raise funds via discounted share sales
CIFI Holdings on Tuesday became the latest Chinese property developer to raise funds by selling new shares at discounted prices, while Agile Group announced its second such capital raising since ...
Is The Global Housing Market About To Crash?
Amid all the current geopolitical conflicts and economic events, investors are watching the real estate market with bated breath. If recent headl ...
Ballooning Hong Kong supply of new homes in 2023 will have developers slashing prices, buyers saving 10 per cent or more
The supply of new homes could more than double compared with this year, driving developers to slash prices by 10 per cent or more to attract buyers amid historically high interest rates, analysts say.
Swire Properties, Hongkong Land say businesses will refocus on city as Covid-19 curbs end, mainland China border reopens
"Assisted by the easing of border and social-distancing restrictions, we expect international and Asian financial and professional services businesses to refocus their attention on Hong Kong because ...
Hong Kong’s banks raise prime rate to 15-year highs as HKMA warns borrowers to gird against risks in era of higher funding costs
The HKMA increased its base rate by 50 basis points to 4.75 per cent from 4.25 per cent, taking it close to a 15-year high HSBC, the largest currency issuing bank in Hong Kong, raised its prime rate ...
HKMA warns borrowers to gird against risks even as Hong Kong’s rate hike slows to half point in lockstep with Fed’s policy downshift
The HKMA increased its base rate by 50 basis points to 4.75 per cent from 4.25 per cent, taking it close to a 15-year high Commercial banks in Hong Kong are expected to increase their prime lending ...