Property news

All you need to know about property including market trends, transactions and leasing information, housing policies, new project launches as well as major property and celebrity news.

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    Property market trends

    As the spread of the novel coronavirus outbreak continues, Hong Kong is faced with mounting cases and has reported its first death from the virus. All of this is bringing me back to awful memories of the SARS epidemic 17 years ago.
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    Property market trends

    Looking back on the past two years, CK Asset Holdings has launched a limited number of housing developments. The company’s Executive Director, Justin Chiu Kwok-hung, said in an interview conducted before the Coronavirus outbreak in Hong Kong, that although the city’s housing market is still plagued by uncertainties, the previously prevalent market pessimism has been dissipating. He adds that with four key advantages working on its side, Hong Kong’s housing market won’t see a major drop in prices, and that home prices will only fluctuate by up to 5% this year compared to the levels of 2019.
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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.