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.
3 June 2014 - Recent sales of smaller second-hand units has increased despite the signs of decline in the luxury market. One example is last week’s sale of a 355 sqft unit in Serenity Park in Tai Po, which sold for $3.55 million, breaking the previous record price of $3.4 million for a similar unit sold earlier this year. The SCMP reported that
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)
28 May 2014 - The SCMP today reported that Cheung Kong sold all 591 units offered as part of its first batch of sales of the City Point Development in Tsuen Wan yesterday. Cheung Kong said that the project, with 1,717 units in total, should launch the second batch of sales – 354 units – later this week.The first batch was announced in conjunction
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
26 May 2014 - Joshua Han Miller, CEO of OKAY.com, recently joined RTHK's Money for Nothing program to talk about OKAY.com's unique business model and his views on the current property market. "Current property price levels - where supply and demand curves meet - are just like stock markets. When there are low transaction volumes, it's not a real e
19 May 2014 - Despite proposed revisions to the double stamp duty last week, Secretary for Financial Services and Treasury, Chan Ka-keung, indicated that there is no expected easing of cooling measures in the short term. Taking into account HK’s current low interest rate environment, measures are likely to remain in place until the Fed raises its
15 May 2014 – A three party consortium of developers led by Emperor Group has acquired a luxury site in prestigious Shouson Hill for HKD2.71 billion (HKD30,888 /sq.ft). The South China Morning Post reports that this is within market expectations, with a recent sale in newly built neighbour development, Shouson Peak, achieving a price of approx. H
15 May 2014 - Both residential and commercial property sectors saw an uptick in purchasers during the month of April. Statistics released by The Land Registry indicate a total of 6,012 transactions (79% residential) were closed. This compares favourably with 4,184 transactions in March and 4,387 transactions during the same period last year. It a
14 May 2014 - Measures put in place last year to double stamp duties on all property transactions are set to be modified to provide home buyers more time in which to sell their existing units.Under the current implementation, those exempted from the double stamp duty include first time buyers and those not in possession of another Hong Kong proper
13 May 2014 – The South China Morning Post reports that mortgage rates are set to rise by as much as 0.25% in 2014. This takes into account the expected increase in US rates and the continued slowdown in the Hong Kong residential sales market that is set to impact the number of loans taken out.