Property

REA Interior Design Awards 2018

kerry wong and ricky wong

The interior design industry has attracted much attention in recent years with an unprecedented increase in market demand. The future development of the industry is bright as more homeowners seek out professional design services. Combining ‘GoHome.com.hk’s Interior Design Awards’ and squarefoot.com.hk’s ‘Top 10 Interior Design Awards’, REA Group has launched its first ‘REA Interior Design Awards 2018’ which recognises 23 outstanding designers from the industry. This new award honours the achievements of local interior designers and encourages more creative ideas to support the growth and development of the industry.

The ‘REA Interior Design Awards 2018’ presentation ceremony was held on April 27 at The Mira Hong Kong with Ms. Kerry WONG, Chief Executive Officer, Greater China Region, REA Group in attendance. Jury members, Mr. Ricky WONG, Managing Director of Wheelock Properties (Hong Kong) Limited and Mr. James LAW, JP, Board Director of Hong Kong Design Centre and Chairman & CEO of James Law Cybertecture were also invited to present the awards.


james law


ricky wong

The winners of the ‘REA Interior Design Awards 2018’ were selected through a judging panel which comprised of six well-known professionals in the industry. The judging criteria included Design Concept Innovation, Functionality, Space Planning, Integration of Interior Design, Finishes and Furnishings and Sustainable Development Concepts. The healthy competition in this growing market has seen an increase in talented interior designers, with many unique and outstanding submissions across all categories. After evaluation and discussion with the the judging panel, 20 residential projects and three commercial projects have been selected as award winners.

A market research and analysis forecast was completed by Crowe Horwath Hong Kong in 2016 for a local company providing renovation and interior design services. The revenue of retail interior design in Hong Kong was predicted to grow steadily from 2010 to 2019. A sharp increase was predicted, from HKD$1.8 billion in 2015 to approximately HKD$2.19 billion in 2019. Simultaneously, the number of interior design houses was also expected to increase with the expansion of the market. Design companies were predicted to increase from 1,350 in 2015 to 1,650 in 2019. The results show that the development of the interior design industry is growing gradually and the future prospect of the industry is still very much positive.


rea ida venue

The need for interior design services also has a high relevance to property market trends. International research agency Demographia has published the 14th Annual Demographia International Housing Affordability Survey at the beginning of the year. Hong Kong has been the least affordable housing market for eight consecutive years. In order to purchase a flat, families would need to save up for 19.4 years on average, excluding daily expenses.

Last week, the Our Hong Kong Foundation launched the third report in their Land and Housing Policy Advocacy series, 'Lacunae in Land Planning: Undersized, Undersupplied and Underestimated', which indicates that the demand for local residential flats is far more than its supply. This has caused local property prices to skyrocket beyond the norm of inflation, and developers to launch smaller flats to match what Hong Kong citizens can afford. The number of ‘undersized’ flats (known locally as ‘nano-flats’ each measuring less than 215 square feet) has increased from 64 units in 2014 to 1,066 units in 2019, a 17-fold increase which is a very significant rate.


ida venue mira hong kong

The REA Group also released the results of its ‘2018 H1 Hong Kong Property Market Perspective Survey’ last month, which indicated that nearly 50% (48%) of respondents who plan to purchase property in Hong Kong would consider purchasing ‘nano flats’ provided that the price is reasonable; nano flats also showed to be a new favourite in the market.

To conclude, high and unaffordable prices of Hong Kong properties have led to a substantially smaller average size of newly constructed residential units in recent years and subsequently the rise of the ‘nano flat’ trend. In order to have a better living quality under a limited budget, more households shift their budgets toward home decoration and interior design. On top of using better materials, Hong Kong residents are also more willing to hire renowned interior designers and have higher concern about fully utilising the space of their current property. There are positive influences to the interior design industry under the atmosphere of increased consumption, leading the industry to approach its peak.


kerry wong speech

Ms. Kerry WONG, Chief Executive Officer, Greater China Region, REA Group reflected that, ‘As a multinational digital advertising business specialising in property, REA Group is dedicated to upgrading its property websites to match the needs of the local population in Hong Kong. We have been continuously developing an interactive platform to match the needs of both professional designers and potential consumers with a desire for an artistically created home environment. We wish that outstanding and innovative designs can be appreciated by customers both locally and overseas. I would like to extend my congratulations to all winners on behalf of REA Group. Every recipient is talented and is thoroughly deserving of the award. Our purpose is to change the way the world experiences property. Our websites serve as a bridge to facilitate the communication between designers and users. It provides an opportunity for special designs to be showcased in front of potential clients and at the same time individual users can connect with the designers that they appreciate.’


rea ida trophies

'REA Interior Design Awards 2018' winning list (Listed in alphabetical order)

Residential

  1. Aidance Design Limited
  2. Artwill Interior Design House (Winning two awards)
  3. B Square Design Limited
  4. Boss Design Ltd.
  5. Cameron Interiors Ltd
  6. Diamond Design (Hong Kong) Limited
  7. Golden Design Limited - Golden Furniture
  8. Good Living Design & Decoration Co.
  9. Impression Design Workshop Ltd (Winning two awards)
  10. inT Design Furniture Limited
  11. Pi Concept Design Company Ltd
  12. Primocasa Interiors Limited
  13. Septem Design Limited (Winning two awards)
  14. 品味.空間 Taste Interior Design
  15. Woo Sang Design Ltd.
  16. Wood Interior Design & Contracting Ltd.
  17. XLMS Limited

Commercial

  1. Aidance Design Limited
  2. Yim Hong Kee Company Limited
  3. XLMS LIMITED