Insights
Tag: hong kong property
Credit Suisse: HK property prices will drop 15 percent in 2015
21 November 2014 - Credit Suisse forecasted in a report that Hong Kong’s property prices will drop 15% in 2015 under an increasing unemployment rate, rising interest rates, and competitive pricing by developers. The bank expected the Fed to increase the US interest rate by a quarter point in the second quarter of 2015, followed by another half poi
OKAY.com featured in iMoney for its innovative business model
21 November 2014 - Joshua Han Miller, CEO of OKAY.com, discussed in an interview with iMoney how the company was established during hard times in the Hong Kong property market, with its disruptive business model standing out from the crowd. Despite the government’s property cooling measures, OKAY.com’s revenue recorded a spectacular increase of 15
Occupy Central’s effect diminishes with property index hitting record high
17 November 2014 - Today marks the eighth week since Occupy Central began and latest statistics indicate a diminishing influence by the movement on the property market. According to the newest CCL index released on Nov 14, the index for all districts, except Hong Kong Island which dropped 2.78%, have recorded increases by 0.94% (Kowloon), 0.53% (E
Consumer Council urges strict regulations to put undesirable sales practices in first hand property market to rest
13 November 2014 - The Consumer Council issued their latest study on the sales of first-hand residential properties, criticizing the new sales regulations adopted since last April for not eliminating undesirable sales practices in the market, including multiphase sales arrangements, advanced cheque payment offered by real estate agents, and genera
The end of US bond-purchase program poses limited threat to Hong Kong property market
10 November 2014 - The Federal Reserve announced today the formal end of its $3.7 billion Quantitative Easing bond purchasing program, while planning to keep interest rates constant for a ‘considerable’ period of time.The Fed’s former Chief, Ben Bernanke once mentioned that interest rate increases will be brought forward when the U.S. jobless rate
Hong Kong home prices rise 8.4% within the first nine months of 2014
8 November 2014 - Data released by the Rating and Valuation Department shows that Hong Kong home prices reached a new high for the sixth consecutive month in September. The monthly price index for private homes climbed to a new record 265.8 during the same month, marking an increase of 1.8% compared with August. In addition, Hong Kong home prices
Billion Group wins Pak Shek Kok site for HK$2.54 billion
5 November 2014 - Billion Group outbid 14 developers including Cheung Kong Holdings (0001) and Sino Land (0083) to win the last Pak Shek Kok seaview residential site for HK$2.54 billion. The offer is higher than forecasted market estimates. A tender for the site, which is located in the Tai Po area, failed in March this year despite seven bids hav
Consideration for residential sale and purchase agreements up 17.9% in October
4 November 2014 - The Land Registry's statistics for October 2014 state that the number of sales and purchase agreements for all building units received for registration in October was 7,967, a decrease of 0.4% month-on-month but increase of 71.4% year-on-year. The total consideration for sale and purchase agreements in October was HK$68.6 billion
Norman Chan: interest rate hike will greatly impact property market
3 November 2014 - During the meeting for the Legislative Council's Panel on Financial Affairs, Hong Kong Monetary Authority Chief Executive Norman Chan commented that it is only a matter of time before interest rates will start increasing in Hong Kong as a result of the US central bank ending its huge monthly bond purchase programme. Chan warns th
3 units of “Opus Hong Kong” on the Peak to launch for sale by tender
1 November 2014 - Swire Properties (1972) yesterday announced it will put three luxury units at the “Opus Hong Kong” on the market for tender. The property is located at 53 Stubbs Road on the Peak. The three units include a 5,146 sq. ft. (saleable) unit on the second floor with a reference price of HK$400 million (HK$ 77,700 per sq. ft.). The deve
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