More property news

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    Overseas property news

    Since May 2019, investment in real estate development, new floor space for housing and funds obtained by real estate developers have all showed signs of mild growth. According to the National Bureau of Statistics, from January to November 2019, real estate investment increased by 10.2% year-on-year to RMB 12,126.5 billion; the total area of commodity housing sales was 1.489 billion square metres, a year-on-year increase of 0.2%. The average unit price from January to November 2019 was RMB 9,335 per square metre, an increase of 7.1% year-on-year; the sales of commodity housing reached RMB 13.9 billion, an increase of 7.3% year-on-year.
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    Overseas property news

    Long been a safe investment haven and the premier choice for all levels of investors, the Asia Pacific is looking at its most complex 12 months in years.
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    Housing policy

    It has been widely reasoned that the demonstrations over the past six months in Hong Kong have been driven, in part, by frustrations of young locals locked out of the residential property market due to prices that have risen to incredible levels. The government has attempted to ameliorate this situation through various measures however there’s no easy fix to such a large, complex problem. One of the efforts underway is the vacancy tax which focuses on forcing developers to release completed units to the market sooner and not withhold stock from the market to support higher prices. It’ll impose a vacancy tax on property developers that are found to be hoarding new flats. The bill, announced in June 2018, is being vetted by lawmakers and will be applied retroactively if it’s passed.
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    Property market trends

    Hong Kong has gone through a great deal of struggles; it could not have weathered the storm if not for the great perseverance that Hongkongers demonstrated when faced with adversity. Tony Wan Wai Ming, Director, Sales & Marketing (Hong Kong Properties) of K. Wah International, appeals to young people to not be disheartened, choosing instead to thrive on challenges, adding that tenacity, self-strengthening and courage are the cornerstones of the Lion Rock spirit displayed in difficult times.
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    Property market trends

    Over the past six months while Hong Kong was mired in mass demonstrations, a key point of discussion was how all this chaos would play out in terms of its negative effects on the territory’s financial and real estate markets. Most people think that it would probably deal a death blow to market confidence from both local and overseas investors and major players would stay away; the stock market would take a huge hit while luxury property market sales would plummet. But taking a closer look at the financial and high-end property markets revealed that the expected economic dark cloud hasn’t actually materialised and in fact, things are looking up.