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.
'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
First batch of 30 flats at “Kensington Hill” start at HKD9.84million
4 September 2014 - Wheelock Properties (0020) yesterday announced that asking prices for its first batch of 30 units of “Kensington Hill” at 98 High Street in Sai Ying Pun will be put on the market at an average price of HKD23,572 /sq. ft. (saleable).The units available for sale include 10 two bedroom and 20 three bedroom apartments sized between
High property prices will not continue and there is no need for additional cooling measures
4 September 2014 - [Translated from HKET] As property prices are on the rise, the market is concerned about whether the government will impose additional cooling measures. Joshua Miller, CEO of OKAY.com, thinks that the government does not need to impose additional measures, since existing transaction volumes are low, and property prices would not
Professional qualification for property agents is cancelled in China
3 September 2014 - To simplify the excessive number of vocational qualifications, the State Council of China decided to cancel types of professional qualifications for 11 industries. The professional qualification for real estate agents has been placed at the top of the to-be-cancelled list.Market insiders said that the new regulation will reduce
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