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.
Double Stamp Duty approved by Legco
16 July 2014 - The Double Stamp Duty has been approved by Legco, 17 months after being proposed. The additional stamp duties will be retroactively applied. These have been collected since February of last year and will now be transferred to the government. The measure was introduced as an attempt to cool Hong Kong's property market. For the full a
Banks adjust Hong Kong property price forecasts, smaller decreases expected
12 July 2014 - JP Morgan and Bank of America Merrill Lynch have revised property price forecasts for the year. A decrease of 5% is now expected, comparing favourably against the respective 25-30% and 10% decreases previously predicted. This is a result of delayed US interest rate changes and a smaller than expected effect on secondary prices creat
Price list of No.3 Plunkett's Road unexpectedly removed from site
11 July 2014 - Oriental Daily reported that Tai Cheung Holdings uploaded the brochure and price list of two houses at No.3 Plunkett’s Road on their website yesterday. This included “House F” (net area of 4,850 sq. ft.) with a price tag of HK$400 Million suggesting an approximate HK$82,474 per sq. ft. for its saleable area. Comparing this price wit
Mini apartments of 177 sq.ft to be sold in Mont Vert development are smaller than some sub-divided flats
10 July 2014 - The selling price of units in "Mont Vert" Phase 1 in Tai Po, developed by Cheung Kong, will be disclosed next week alongside the number of first batch apartments and the intended launch date. Apple Daily reported that developer has already uploaded the e-brochure of " Mont Vert" Phase 1 on its official website and 4 show flats will
Sun Hung Kai wins 2 residential plots in Tin Shui Wai for HK$4.2billion, lowest ppsf in 13 years
9 July 2014 - Hong Kong Economic Times reported that Sun Hung Kai Properties has won two residential plots in Tin Shui Wai for a total of approximately HK$4.2 billion. The average transaction price of HK$ 1,854 per square foot marks a 13-year record low for land prices within the district.Victor Lui, Deputy Managing Director of Sun Hung Kai Proper
Barclays warns investors that Occupy Central could hurt property market
8 July 2014 - Figures released by the Rating and Valuation Department showed Hong Kong’s property price index reached an all-time high in May. An index following rentals also climbed upwards for three months in a row.According to a report by Barclays, home prices are now 13.5 times that of gross household income, which is higher than the figure of
The Transport and Housing Bureau worries rent controls might have side effects
7 July 2014 - There have been discussions in recent years that put forward the suggestion for the government to re-introduce rent control measures in order to safeguard tenants’ interests, especially those of grassroots tenants.The Transport and Housing Bureau conducted a survey regarding the impact that might be generated from rent controls. Surv
Pre-sale Consent Applications for Residential Properties reach 21-month high in June
5 July 2014 - Developers are keen on preparing their properties for launch. Apple Daily reported that the Lands Department received 7 pre-sale consent applications with a total of 2,822 uncompleted residential units in June setting a 21-month record high. For the latest applications, the Fat Kwong Street project in Ho Man Tin which was bought by S
Dishonest real estate agent lied to a first time buyer about a haunted home
3 July 2014 - Buyers in Hong Kong generally avoid buying "haunted homes" i.e. homes where previous tenants have died violently. Sky Post reported that a netizen recently complained about buying a haunted home in East Kowloon from a dishonest real estate agent and only learned from the bank that the apartment was haunted when applying for a mortgag
New mortgages hit 18-month high
28 June 2014 - The secondary residential market turned active in May upon the easing of recent government measures. The new monthly mortgage loans drawn rose by 17.7% to 5,494 cases, involving a total amount of HKD22.749 billion. The industry believes that brand new properties will become the focus of the mortgage market in June, and expect the
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