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.
Walter Kwok formed 'Empire Group Holdings' to rebuild his property business
The former chairman of Sun Hung Kai Properties, Walter Kwok Ping-sheung, recently formed a new company and renamed 2 existing companies to rebuild his property business.Kwok revamped two of his privately owned real estate related companies in June and July this year, following which his “Empire Group Holdings Limited” co-operated
Peter Woo says politics is a luxury
Former chairman of Wheelock (0020) Peter Woo Kwong-ching, who ran for the first Chief Executive post in 1997 and has been a Chinese People's Political Consultative Conference Standing Committee Member for more than a decade, spoke to the press and stated that politics is a luxury and he wants young people to know that.Peter Woo st
27 bids received for Tsuen Wan and Ma On Shan sites
The tender for two land parcels located at Yeung Uk Road, Tsuen Wan and Hang Kwong Street, Ma On Shan was closed on Friday (8 August). Ming Pao reported that 27 tenders were received, of which 11 placed bids on the Tsuen Wan site and 16 placed bids on the Ma On Shan site. The response was better than market expectations.The potenti
'Homantin Hillside' to launch in October; name said to mislead buyers
Wing Tai Properties (0369) and Nan Fung Development will launch their joint residential project“Homantin Hillside” at No. 1 Ko Shan Road in Hung Hom in October. The Sales of First-hand Residential Properties Authority yesterday warned that the property name may be misleading to potential buyers as the property is located in Hung Ho
Average home prices in Hong Kong hit another record
Hong Kong's average home prices rose for a third consecutive month and hit a record high again in June. The Rating and Valuation Department yesterday announced that the monthly price index of private housing climbed 2.6 percentage points from the previous record, set in May, to 249.8.Small and medium-sized units saw the sharpest up
World's Most Expensive Home for Sale on the Peak
After withdrawing two houses put on tender last month due to bids not meeting target prices, Sun Hung Kai Properties (0016) yesterday released the price list of the 12 houses at 'Twelve Peaks' at 12 Mount Kellett Road on the Peak, with an average asking price of HK$127,000 per sq. ft. (net).House 1 sized at 4,661 sq. ft. (net) with
Cheuk Nang seeks sale of Wan Chai HQ
Cheuk Nang Holdings (00131) announced that it will launch a tender for the sale of its Wan Chai headquarters, Cheuk Nang Plaza at 250 Hennessy Road, with a bottom price set at HK$880 million. Chairman Cecil Chao Sze-tsung said that Hong Kong's declining competitiveness and worsening governance is forcing him to reduce his local inv
URA lowers entry barrier for Kwun Tong mega project
The Urban Renewal Authority will re-tender the Kwun Tong redevelopment project, the Kwun Tong Centre Project (Areas 2 and 3), scrapping the HK$8 billion entry fee but leaving unchanged the requirement to build 1,700 mid- to large-sized flats. It is expected that the bottom price will be adjusted and bidding interest from developers
Property transaction records reach 17-month high
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
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
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