Property News & Insights
Explore OKAY.com’s latest property news and trends across the Hong Kong, China and Global property markets. With expert commentary and opinion, we keep you up to date on property happenings both near and far.
World's Most Expensive Home for Sale on the Peak
7 August 2014 - After withdrawing two houses put on tender last month due to bids not meeting target prices, Sun Hung Kai Properties (0016) yesterday released the price list of the 12 houses at 'Twelve Peaks' at 12 Mount Kellett Road on the Peak, with an average asking price of HK$127,000 per sq. ft. (net). House 1 sized at 4,661 sq. ft. (net) wit
Cheuk Nang seeks sale of Wan Chai HQ
6 August 2014 - Cheuk Nang Holdings (00131) announced that it will launch a tender for the sale of its Wan Chai headquarters, Cheuk Nang Plaza at 250 Hennessy Road, with a bottom price set at HK$880 million. Chairman Cecil Chao Sze-tsung said that Hong Kong's declining competitiveness and worsening governance is forcing him to reduce his local inv
URA lowers entry barrier for Kwun Tong mega project
6 August 2014 - The Urban Renewal Authority will re-tender the Kwun Tong redevelopment project, the Kwun Tong Centre Project (Areas 2 and 3), scrapping the HK$8 billion entry fee but leaving unchanged the requirement to build 1,700 mid- to large-sized flats. It is expected that the bottom price will be adjusted and bidding interest from developers
Property transaction records reach 17-month high
5 August 2014 - The Land Registry yesterday released statistics indicating that 9,400 sale and purchase agreements were received for all building units in July. The figure marks a 17-month record high. Of the total S&P agreements submitted, 7,792 were for residential units, marking an increase of 30.7% on June and 95.5% on July last year. Turnove
Expats looking at more affordable luxury homes
4 August 2014 - Foreign corporations have been bringing in fewer expatriate executives to Hong Kong and have reduced housing budgets in recent years. Increasingly conservative budgets at multinational firms, whose employees are the usual drivers of the third-quarter luxury-leasing spike, have also manifested themselves in reduced demand for the ci
OKAY.com mentioned in Forbes
4 August 2014 - I recently had the pleasure of meeting with Joshua Steimle, a digital media expert and regular contributor for Forbes. Mr. Steimle is the founder and CEO of MWI.com - a leading SEO and digital media firm based in the U.S. - who knows how to identify businesses that are using technology to change their industries. His article "Wh
A record 30 agents had their licenses revoked in the first half of 2014
1 August 2014 - The Estate Agents Authority announced that in the first six months of this year, a record 30 agents had their licenses revoked. This is 1.5 times higher than the figure for the whole of last year. Most of them, however, were because of cases unrelated to the property industry. Nevertheless, Estate Agents Authority CEO Ruby Hon high
Li Ka-shing sees sustained low interest rate environment
1 August 2014 - Cheung Kong Holdings (0001) announced its interim report this week which saw its net profit soar 59 percent in the first six months of the year to HK$21.35 billion from a year ago, beating market expectations. Cheung Kong Group Chairman Li Ka-shing said in the report that buyer sentiment had recently improved, and construction cost
339 Tai Hang Road to launch next Wednesday
31 July 2014 - The price list and details of sales arrangements for Lai Sun Development's (0488) “339 Tai Hang Road” in Happy Valley were released yesterday. The development is comprised of 9 luxury residential units, with prices starting from HK$58.5 million to HK$371.5 million. Buyers who choose the “Immediate Mortgage Payment” package will enj
Kwun Tong redevelopment project fails to attract takers
30 July 2014 - The mega Kwun Tong redevelopment project, Kung Tong Town Centre Project (Development Areas 2 & 3), requiring investment of up to HK$18 billion, has failed to attract any takers, the first time the Urban Renewal Authority (URA) has faced such a tender failure. The Authority yesterday said that all tenders had failed to meet the HK$8
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