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.
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
Low price strategy used to attract buyers in brand new luxury developments
17 June 2014 - With a significant increase in the completion of residential projects, and hence supply in the next few years, many developers are keen on using a low price strategy to attract buyers. Ming Pao reported that two brand new luxury residential developments, “Grand Austin” in Southwest Kowloon and “Mayfair by the Sea I & II” in Tai Po
“The Seafront” house sold for record high of HKD55,889 per sq.ft
16 June 2014 - Many brand new residential developments were launched over the weekend with attractive stamp duty cash rebate packages on offer in time for Father’s Day. Ming Pao reported that 437 first hand residential units were sold during the weekend, including Sun Hung Kai Properties’ new project at “The Seafront” in Tsuen Wan West which sold
OKAY.com featured in the SCMP
09 June 2014 - The SCMP today reported on OKAY.com and how our innovative business model is succeeding in a challenging Hong Kong property market. The article describes some of the key differences in OKAY.com's platform for real estate agents, and how we're using technology to give our agents more tools to serve clients, provide higher rewards t
Pockets of Demand are Changing Some Property Analysts’ Views
5 June 2014 - The Hong Kong property market is not all “doom and gloom”. Recent sales of smaller units have shown only marginal price decreases, and in some cases price increases to new highs. These have surprised many property analysts particularly those that have been forecasting sales price declines of 15-30% over the last year across all ma
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