Tag: luxury market

The State of Hong Kong’s Luxury Property Market

6 March 2017 - 2016 was a year of remarkable highs and lows for the Hong Kong property market. Spurred on by a concoction of available credit and negative real interest rates, Hong Kong’s residential prices increased by nearly 200 per cent in the post 2008 period. This combined with record breaking bids from mainland developers and a seeming upsu

Singer Andy Hui buys unit at Ridge Court, Repulse Bay

4 October 2014 - Famous Hong Kong Singer Andy Hui is reported to have bought a low floor flat B unit (1,780 sq. ft. saleable) at “Ridge Court” for HKD44.6 million two weeks before Occupy Central commenced. The transacted price per sq. ft. of HKD25,056 set a record high for this 50 year old luxury development. Land Registry records show that the fo

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

Show flat at 'Opus Hong Kong' sells for HKD451M

28 August 2014 - Swire Properties (1972) announced that the fully furnished show flat apartment on the 10th floor of 'Opus Hong Kong' at Stubbs Road sold for HKD451.3 million yesterday with an existing tenancy agreement and 2 car parking spaces. The apartment is one of several units in the project put up for tender earlier this year. Its transacte

'3 Ede Road' in Kowloon Tong to launch first batch of 30 units

14 August 2014 - Kerry Properties (0683) yesterday announced the price list of the first batch of 30 units for '3 Ede Road' in Kowloon Tong, with listed prices ranging from HK$53.12 million to HK$ 76.59 million, equivalent to HK$ 34,400 to HK$ 45,800 per squarefoot. The price level is 30% to 40% higher than secondary market luxury developments wit

2 village houses in Sai Kung bought by Mainlander for over HKD100M

18 June 2014 - Although the luxury market has remained quiet, a mainlander recently spent approx. HKD104M to purchase 2 village houses in Sai Kung. Apple Daily reported that these 2 transacted units are even number Block C and Block D houses at Sheung Sze Wan. The two houses are positioned next to each other and are both about 2,100 sq. ft in size

Low price strategy used to attract buyers in brand new luxury developments

17 June 2014 - With a significant increase in the completion of residential projects, and hence supply in the next few years, many developers are keen on using a low price strategy to attract buyers. Ming Pao reported that two brand new luxury residential developments,  “Grand Austin” in Southwest Kowloon and “Mayfair by the Sea I & II” in Tai Po

Pockets of Demand are Changing Some Property Analysts’ Views

5 June 2014 -  The Hong Kong property market is not all “doom and gloom”.  Recent sales of smaller units have shown only marginal price decreases, and in some cases price increases to new highs.  These have surprised many property analysts particularly those that have been forecasting sales price declines of 15-30% over the last year across all ma
By: Joshua Han Miller

Looking at the Hong Kong Property Market like a Stock Market

30 May 2014 - Nobody can dispute that we are in a very quiet property market.  The preliminary figures released by the Rating and Valuation Dept for 2014 (available up to March as of the writing of this article) indicate roughly 3,600 residential sales per month this year – that’s roughly 50% less than the average of the last 10 years (2004-2013)
By: Joshua Han Miller

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
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