A wholly-owned unit of Lai Sun Development Company, a Hong Kong property firm, has sold its equity stake in the AIA Central skyscraper for HK$1.42 billion (US$180 million) in a bid to boost its liquidity.The move comes just a few weeks after the developer disposed...
CK Asset’s Blue Coast project in Wong Chuk Hang, one of Hong Kong’s biggest residential launches this year, was snapped up by eager homebuyers rushing to take advantage of attractive discounts after the easing of the city’s property curbs.Around 200 units, or about 47 per...
Hong Kong property sales are expected to hit a 10-month high in March following the removal of all of the city’s property cooling measures, two leading property agencies said.Midland Realty and Centaline Property Agency, two of Hong Kong’s largest real estate agencies, said the total...
The situation has led to several conversions of hotels into student spaces in the past two years, with more in the offing in 2024.Students walk on the campus of Hong Kong University of Science and Technology on October 26, 2023. Photo: May TseNon-local student enrolment...
Improved retail sales last year appear to have helped retail landlords, as the average retail rent rose 4 per cent in 2023, according to government data. This put shop rents just 10 per cent below the pre-pandemic peak in February 2019, S&P said.Pedestrians cross a...
Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million (US$3.8 million) or more since the removal of all of Hong Kong’s property curbs last month, JLL said.These buyers have accounted for 70 per cent of the primary sales of luxury residential...
“A new batch of units are expected to be launched in the short term, and there will be room for price increases,” Wheelock executive director Ricky Wong said in reaction to the strong market sentiment.Wheelock’s Seasons Place in Tseung Kwan O. Photo: HandoutEven before the...
Henderson Land Development, one of Hong Kong’s biggest developers, said it will launch some 7,100 new residential units this year, 7 per cent fewer than last year, after reporting flat annual profit.The developer, founded by Hong Kong’s second-wealthiest man, Lee Shau-kee, is confident the city’s...
The commercial property leasing market across most Asia-Pacific markets is improving, except in Hong Kong and mainland China where sentiment is particularly downbeat, according to CBRE.While respondents in South Korea and Japan were the most positive at just under 40 per cent, the sentiment was...
Hong Kong’s current property market downturn is cyclical and not structural, according to S&P, which expects home prices to decline by as much as 10 per cent this year as elevated interest rates keep demand in check.“We believe that there is pent-up home-buying demand in...