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.
Property transaction records reach 17-month high
5 August 2014 - The Land Registry yesterday released statistics indicating that 9,400 sale and purchase agreements were received for all building units in July. The figure marks a 17-month record high.Of the total S&P agreements submitted, 7,792 were for residential units, marking an increase of 30.7% on June and 95.5% on July last year. Turnover
Expats looking at more affordable luxury homes
4 August 2014 - Foreign corporations have been bringing in fewer expatriate executives to Hong Kong and have reduced housing budgets in recent years. Increasingly conservative budgets at multinational firms, whose employees are the usual drivers of the third-quarter luxury-leasing spike, have also manifested themselves in reduced demand for the ci
OKAY.com mentioned in Forbes
4 August 2014 - I recently had the pleasure of meeting with Joshua Steimle, a digital media expert and regular contributor for Forbes. Mr. Steimle is the founder and CEO of MWI.com - a leading SEO and digital media firm based in the U.S. - who knows how to identify businesses that are using technology to change their industries. His article "Wha
A record 30 agents had their licenses revoked in the first half of 2014
1 August 2014 - The Estate Agents Authority announced that in the first six months of this year, a record 30 agents had their licenses revoked. This is 1.5 times higher than the figure for the whole of last year. Most of them, however, were because of cases unrelated to the property industry.Nevertheless, Estate Agents Authority CEO Ruby Hon highl
Li Ka-shing sees sustained low interest rate environment
1 August 2014 - Cheung Kong Holdings (0001) announced its interim report this week which saw its net profit soar 59 percent in the first six months of the year to HK$21.35 billion from a year ago, beating market expectations.Cheung Kong Group Chairman Li Ka-shing said in the report that buyer sentiment had recently improved, and construction costs
339 Tai Hang Road to launch next Wednesday
31 July 2014 - The price list and details of sales arrangements for Lai Sun Development's (0488) “339 Tai Hang Road” in Happy Valley were released yesterday. The development is comprised of 9 luxury residential units, with prices starting from HK$58.5 million to HK$371.5 million. Buyers who choose the “Immediate Mortgage Payment” package will enj
Kwun Tong redevelopment project fails to attract takers
30 July 2014 - The mega Kwun Tong redevelopment project, Kung Tong Town Centre Project (Development Areas 2 & 3), requiring investment of up to HK$18 billion, has failed to attract any takers, the first time the Urban Renewal Authority (URA) has faced such a tender failure.The Authority yesterday said that all tenders had failed to meet the HK$8 b
Poorer residents in London luxury development forced to use different entrances and facilities
29 July 2014 - Hong Kong people are active buyers of London residential properties. A London media reported that “One Commercial Street” in London, which was launched in Hong Kong a year ago, forced poorer residents to use a backdoor in the alley instead of the residential building's main entrance.Additionally, bicycle storage spaces, rubbish disp
Cheung Kong sales revenue crosses HK$20 billion aided by Mont Vert launch
28 July 2014 - 433 units at Cheung Kong's “Mont Vert (Phase 1)” development in Tai Po were quickly sold during the first two days of its launch, cashing in over HK$2.6 billion. Adding to other developments sold earlier this year, Cheung Kong has already received over HK$17.6 billion in year-to-date residential sales. This compares very favourably
Residential mortgage loans in negative equity decreased to 30 cases in Q2
26 July 2014 - Recent figures released by the Hong Kong Monetary Authority highlight a decrease in residential mortgage loans (RMLs) that have been forced into negative equity. 30 cases were recorded at end-June 2014 compared with 81 cases at end-March 2014. The aggregate value of RMLs in negative equity decreased to HK$129 million at end-June 201
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