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.
Mainland developers worry as weak RMB hurt earnings by 29%
2 July 2014 - The devaluation of the RMB is a risk factor to mainland property developers according to the Oriental Daily. A research report by Credit Suisse stated that if the RMB depreciated by 15% against the US dollar, earnings per share for China property stocks listed in Hong Kong might drop 29.6% due to a large volume of external debt. Howe
John Tsang: Ease of “tough measures” might reinvigorate market’s excitement
30 June 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently stated in his blog that due to the ongoing low interest rate environment and tight supply for commercial and residential properties, property prices have soared irrationally and have been showing “bubble-like conditions” over the past few years. The market generally
A Conversation with CNBC's Susan Li about OKAY.com's Business Model by Joshua Miller
27 June 2014 - The following post was written by OKAY.com CEO Joshua Han Miller, who recently made an appearance on CNBC Asia's Squawk Box. I had a great time yesterday as a guest on CNBC's Squawk Box with the esteemed Susan Li. We discussed some of the dynamics of the current property market and touched on what OKAY.com does differently in its
Property investors, foreign students watching out for strong British pound
26 June 2014 - UK economic data has shown great improvement and reached a new high during the year. Oriental Daily News reported that the British pound has become a popular currency to overseas property investors and students given its low volatility resulting from strong economic support. UK GDP has recovered to pre-crisis levels in 2008, and dat
CY’s report card criticised for ‘hiding evils’
25 June 2014 - “Significant progress” has been achieved on tackling the city’s housing shortage and fighting poverty, Chief Executive Leung Chun-ying said yesterday as he announced the release of an annual report covering his second year as the city's leader. SCMP reported that some political parties said the report is too glossy, appearing to be
Second reading of Double Stamp Duty Proposal to be held in July
24 June 2014 - On 22 February 2013, the Financial Secretary announced the Government would amend the Stamp Duty Ordinance by adjusting the ad valorem stamp duty rated (ie. Double Stamp Duty Proposal). The proposal attracted much criticism and is still under review as a result.The Hong Kong Economic Times reported that with over a year for delibera
Real estate agents observed to be changing jobs amidst quiet market
23 June 2014 - With sentiment in the Hong Kong property market taking a dip last year, many real estate agents left the industry to seek out jobs with a more stable income. Oriental Daily News reported that between May 2013 and April 2014, the number of licensed real estate brokers decreased continuously, declining from 37,000 plus to just over 35
Donald Cheung from Emperor International predicts residential prices to decline
20 June 2014 - With a limited number of new developments launched last year, Emperor International announced its net profit for the year ended 31 March 2014 decreased 69% y-o-y. Donald Cheung, Executive Director of Emperor International, said, “The group will launch its 42-storey sea view luxury project in Connaught Road West, Sai Ying Pun, in th
Citi in HK$5.4b shift to East Kowloon
19 June 2014 - Banking giant’s outlay for a Wheelock-developed site is the city’s biggest single office transaction. Local newspapers including the SCMP and HKET reported that US banking group Citi will spend HK$5.42 billion on a new building in East Kowloon that will become the hub for its 4,500 staff scattered around the city.The deal eclipsed t
2 village houses in Sai Kung bought by Mainlander for over HKD100M
18 June 2014 - Although the luxury market has remained quiet, a mainlander recently spent approx. HKD104M to purchase 2 village houses in Sai Kung. Apple Daily reported that these 2 transacted units are even number Block C and Block D houses at Sheung Sze Wan. The two houses are positioned next to each other and are both about 2,100 sq. ft in size
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