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.
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 a
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 Properti
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
“The Avenue” penthouse units with pools ask for over HKD52,000 per sq.ft.
5 September 2014 - Sino Land (0083) yesterday released the price list of the last 68 units of The Avenue - Phase 2 in Wan Chai.. Two penthouse units with pools are asking for approx. HKD52,000 per sq.ft, marking two of the most expensive properties in the district.For the 68 newly launched apartments at The Avenue - Phase 2. Flat A on the 48th flo
Licensed agents increase to 35,600 in August
5 September 2014 - The Estate Agents Authority yesterday announced that the total number of licensed agents has risen 4 months consecutively, increasing to a total of 35,595 agents as of the end of August. The figure includes approx. 16,700 individuals with Salesperson Licenses and 18,900 with Estate Agent Licenses.The Hong Kong property market ha
Mainland developer purchases 48 Caine Road
4 September 2014 - Yuzhou Properties (1628) announced that the company purchased a residential property located at 48 Caine Road for a consideration of HKD374 million. The company intends to redevelop the property into a 27-storey luxury residential project.The CFO Chiu Yu Kang said the construction and interest cost of the project is expected to
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