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.
Detached house in Tao Po Kau sells for HKD480 million
19 September 2014 - The super luxury residential market has become more active. According to the Land Registry, a detached house along Tai Po Kau Road No. 4781 recently sold for HKD480 million (HKD29,000 per sq. ft.). This marks a new record high for a single house in the New Territories. The site of the property is about 61,742 sq. ft. and the d
'Arezzo' in Mid-Levels West is set to launch next weekend
17 September 2014 - Swire Properties' (1972) 'Arezzo', located at 33 Seymour Road in Mid-Levels West, is set to launch next weekend. The developer released the price list for its first batch of 50 units yesterday. The apartments are sized between 911 to 976 sq. ft.(saleable) and prices are set to range from HKD22.28 million to HKD29.58 million (HK
Tai Wai Station Project receives record bids for MTR Corp
16 September 2014 - After a failed tender two years ago, MTR Corporation (0066) re-launched its mega project atop Tai Wai station for tender again this month and received 23 bidding documents from developers prior to yesterday's closing. This marks the highest number of bids ever recorded for an MTR Corporation tender project. The 23 developers wh
Construction application of private vehicle access road to '17 Bowen Road' is rejected
13 September 2014 - Following objections from different parties including the Transport Department, the Town Planning Board has rejected the application for the construction of a private vehicle access road to “17 Bowen Road” in Mid Levels. 'Alliance For a Beautiful Hong Kong' objected the proposal and collected over 3,000 signatures against the
High floor unit at 'The Somerset' sold for HKD116 million
12 September 2014 - A new transaction was recently compleed in well-known luxury building “The Somerset” in Repulse Bay. Sing Tao Daily reported that a flat C on a high floor of “The Somerset” sized at 2,463 sq. ft. (saleable) was sold for HKD116 million together with one car parking space. The transaction achieved a total of HKD47,097 per square
Sharing of the OKAY.com entrepreneurial journey
11 September 2014 - I was honored to be invited to Paperclip's Startup Campus and share some of the stories / challenges we've faced as a growing organization. It was great to be in a room full of aspiring entrepreneurs, and also to be alongside John McLennan, Managing Director and Owner of Indigo, who brought the experience of running a 30-year
'Kadoorie Lookout' re-launches with 5 percent price increase
11 September 2014 - Units at 'Kadoorie Lookout' in Ho Man Tin were put on sale again yesterday. Developer Tai Hung Fai Enterprise disclosed the price list for its first batch of 30 re-launched units, raising prices by an average of 5%. Units are sized between 529 to 960 sq. ft.(net) with asking prices of HKD10.728 million to HKD26.12 million (HKD2
Tai Wai Station Project set to be retendered
11 September 2014 - The MTR Corporation (0066) yesterday announced its intention to retender the mega Tai Wai Station Project. Market expectations forecast that the land premium will be slashed by 30% to around HKD8.11 billion (below HKD3,000 /sq.ft (gross floor area)). Many developers including Cheung Kong Holdings (0001) and Sun Hung Kai Propert
Building Department approves 132 building plans in first seven months of 2014
10 September 2014 - Developers have become more active in seeking out the approval of floor plan designs for their residential developments. Hong Kong Economic Journal reported that the Buildings Department received 239 building plan approval applications during the first seven months of the year, marking a 61.5% increase year-on-year. In addition
Home prices and rents continue to soar in July
6 September 2014 - Home prices continue to rise, hitting another record high. The Rating and Valuation Department (RVD) yesterday released its private domestic report for July, showing that the home price index of all classes increased 2.2% month-on-month to 255.6. This constitutes increases across the last four months, with a new high being set f
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