Insights
Tag: market trends
73,000 flats to be available in the next few years, marking 8-year high
26 July 2014 - The Government has been actively launching residential sites in recent years. According to figures from the Transport and Housing Bureau, construction began on 12,300 private housing units during the first half of 2014. This is the highest figure since records began in 2004. The figures showed that 73,000 flats will be available in
John Tsang reminds the public to beware of hot sentiment
20 July 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently expressed in his blog that he is relieved that the Double Stamp Duty was approved by Legco within the 2014 Legislative Session. Tsang mentioned that demand in the property market has eased after implemention of the Special Stamp Duty, Buyer Stamp Duty and Double Sta
Twelve Peaks to open for tender
17 July 2014 - "TWELVE PEAKS" on the Peak developed by Sun Hung Kai Properties will open to the market for tender this Saturday (July 19). Sun Hung Kai Properties Deputy Managing Director Victor Lui Ting said that they will begin accepting bids and the show houses at the completed development will be open to buyers for visiting. The market believe
The Real Estate Developers Association to discuss "Pilot Scheme for Arbitration on Land Premium" at the end of July
17 July 2014 - Chief Executive CY Leung said in the 2014 Policy Address that the Hong Kong Government will introduce a "Pilot Scheme for Arbitration on Land Premium" to facilitate early agreement on land premium payable by way of arbitration, and the Development Bureau (DEVB) will set up a dedicated cross-disciplinary team to assist the Steering C
Kwun Tong redevelopment project receives four tenders, total investment may exceed HK$16 billion
15 July 2014 - Local newspapers reported that the mega Kwun Tong redevelopment project, Kung Tong Town Centre Project (Development Areas 2 & 3), received a fewer-than-expected four tenders. These included offers from Sun Hung Kai (0016), Wheelock (0020) and Henderson Land Development, and one unknown party. Surveyors are worried that the project c
Banks adjust Hong Kong property price forecasts, smaller decreases expected
12 July 2014 - JP Morgan and Bank of America Merrill Lynch have revised property price forecasts for the year. A decrease of 5% is now expected, comparing favourably against the respective 25-30% and 10% decreases previously predicted. This is a result of delayed US interest rate changes and a smaller than expected effect on secondary prices creat
Barclays warns investors that Occupy Central could hurt property market
8 July 2014 - Figures released by the Rating and Valuation Department showed Hong Kong’s property price index reached an all-time high in May. An index following rentals also climbed upwards for three months in a row. According to a report by Barclays, home prices are now 13.5 times that of gross household income, which is higher than the figure o
New mortgages hit 18-month high
28 June 2014 - The secondary residential market turned active in May upon the easing of recent government measures. The new monthly mortgage loans drawn rose by 17.7% to 5,494 cases, involving a total amount of HKD22.749 billion. The industry believes that brand new properties will become the focus of the mortgage market in June, and expect the
Mainland developers worry as weak RMB hurt earnings by 29%
2 July 2014 - The devaluation of the RMB is a risk factor to mainland property developers according to the Oriental Daily. A research report by Credit Suisse stated that if the RMB depreciated by 15% against the US dollar, earnings per share for China property stocks listed in Hong Kong might drop 29.6% due to a large volume of external debt. How
John Tsang: Ease of “tough measures” might reinvigorate market’s excitement
30 June 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently stated in his blog that due to the ongoing low interest rate environment and tight supply for commercial and residential properties, property prices have soared irrationally and have been showing “bubble-like conditions” over the past few years. The market generally
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