Insights

Tag: market trends

Cheung Kong’s City Point Development in Tsuen Wan sees 1-day sellout

28 May 2014 - The SCMP today reported that Cheung Kong sold all 591 units offered as part of its first batch of sales of the City Point Development in Tsuen Wan yesterday.  Cheung Kong said that the project, with 1,717 units in total, should launch the second batch of sales – 354 units – later this week.The first batch was announced in conjunction
By: OKAY.com

How bad will the Property Market Correction Be in Hong Kong?

26 May 2014 – Relative to some analysts that have been predicting 20-30% declines in the Hong Kong property market, I've been much less pessimistic in my view on the markets.  Over the last year, I’ve told clients that while I do believe a downward correction is coming, the decline will be more modest - around 10-15% in the next 1-3 years.  There
By: Joshua Han Miller

OKAY.com interviewed on Property Market on RTHK

26 May 2014 - Joshua Han Miller, CEO of OKAY.com, recently joined RTHK's Money for Nothing program to talk about OKAY.com's unique business model and his views on the current property market. "Current property price levels - where supply and demand curves meet - are just like stock markets. When there are low transaction volumes, it's not a real e
By: OKAY.com

Property cooling measures likely to remain in place until at least Q2 2015

19 May 2014 - Despite proposed revisions to the double stamp duty last week, Secretary for Financial Services and Treasury, Chan Ka-keung, indicated that there is no expected easing of cooling measures in the short term. Taking into account HK’s current low interest rate environment, measures are likely to remain in place until the Fed raises its
By: OKAY.com

Sales transactions rise 43% month-on-month in April 2014

15 May 2014 - Both residential and commercial property sectors  saw an uptick in purchasers during the month of April. Statistics released by The Land Registry indicate a total of 6,012 transactions (79% residential) were closed. This compares favourably with 4,184 transactions in March and 4,387 transactions during the same period last year. It a
By: OKAY.com

Rise in mortgage rate predicted

13 May 2014 –  The South China Morning Post reports that mortgage rates are set to rise by as much as 0.25% in 2014. This takes into account the expected increase in US rates and the continued slowdown in the Hong Kong residential sales market that is set to impact the number of loans taken out.
By: OKAY.com

Hong Kong Government to Possibly Relax the Double Stamp Duty Policy

13 May 2014 - The government today announced it may relax the policy relating to the Double Stamp Duty imposed on purchasers of property in Hong Kong.  The policy, imposed in February 2012, has thus far required buyers to pay double stamp duty if they do not sell their existing unit within six months of buying a new unit. This has been seen by man
By: OKAY.com

Hong Kong luxury rentals decline, mass market rentals shine

10 May 2014 - In line with the state of the global economy, it’s no secret that employee benefits for expatriates moving to or living in Hong Kong have been reduced in recent years. In Hong Kong, mid and top-level expats at multinational corporations have been some of the most affected and have seen their housing budgets cut. This has forced them
By: OKAY.com
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