Property Investment Market and Trend
  • Consortium wins development rights to MTR’s Wong Chuk Hang residential project at a lower premium than earlier phase

    A consortium of four Hong Kong developers has won the development rights for the latest residential project at Wong Chuk Hang MTR station, which has been acquired at a lower premium than the previous phase.Kayson Limited, comprising New World Development, Empire Group, Lai Sun Development and CSI Properties, won the tender for the fifth phase of the project at Wong Chuk Hang station on the South Island line, railway operator MTR Corp said on Wednesday.“The pandemic has not affected the…

  • Hong Kong property market narrowly avoids first annual decline in home prices in 12 years as demand defies coronavirus

    Hong Kong’s home prices narrowly avoided their first annual decline in 12 years as the fourth wave of coronavirus dealt a less savage blow than expected to December’s data.The price index for lived-in homes in December fell 0.4 per cent to 379.3, stretching a three-month losing streak to 1 per cent, according to data from the Rating and Valuation Department released on Wednesday.That left the index a fraction above its reading of 379.2 in December 2019. However, it was below the level of 379.7…

  • Hong Kong’s commercial, industrial property market could rebound to pre-pandemic levels on China capital influx, economic recovery

    Activity in Hong Kong’s commercial and industrial property market is likely to return to pre-pandemic levels this year amid hopes of an economic recovery aided by Covid-19 vaccinations and mainland investors looking to deploy capital, say market observers.Investment volume could rebound by as much as 60 per cent to HK$98 billion (US$12.6 billion) this year after they fell 40 per cent year on year to a 17-year low of HK$62.56 billion in 2020, according to a forecast by Ricacorp (CIR) Properties…

  • Global luxury brands like Omega, De Beers eye China’s retail boom as wealth expands in lower tier cities

    Global deluxe watch and jewellery brands are expanding into lower-tier cities in mainland China, as growing wealth powers the best performing retail locations for luxury goods in the world’s second-biggest economy.Swiss watchmaker Omega, diamond jeweller De Beers and Italian ultra-prestigious jewellery house Buccelatti are among brands queuing to open new shops at Chengdu International Finance Square, one of the top 10 highest grossing malls in the country.The capital city of southwestern…

  • Controversial change to Portugal’s golden visa scheme to weigh heavily on Lisbon and Porto’s property market

    Portugal’s decision to go ahead with a controversial change to its popular golden visa programme is likely to dent foreign investment and further affect the property sector and economy severely battered by the Covid-19 pandemic, according to agents.The new rule, which excludes the capital Lisbon and Porto from qualified destinations for property investments, is likely to push down prices of homes in these popular cities once it is implemented in July, and will potentially weigh on the declining…

  • Exercise care on advertisements and be alert to misrepresentation when buying first-hand residential property

    The sale of new residential developments remains the focus of Hong Kong’s property market this year. In this regard, consumers should not solely rely on promotional materials and advertisements when considering a purchase of a first-hand residential property, particularly those posted on social media or lamp posts. They should always be sceptical about promotional messages. It is not easy for consumers to verify information that appears in advertisements. Advertisements with only a contact…

  • Cheap rents beckon Hong Kong residents as serviced apartment operators slash rates, throw in freebies to boost occupancy

    Residents and expatriates in the world’s most expensive city now have a chance to make some big savings on rents.Hong Kong’s embattled serviced apartment operators are slashing rents, in some cases, by as much as half, and offering sweeteners to boost occupancy rates that have been hit hard by travel restrictions and a sharp decline in relocations because of the coronavirus pandemic.“Whilst hotels can entice locals with attractive staycation packages, serviced apartments rely heavily on…

  • Data centres, logistics assets to gain more allocation from investors as Covid-19 amplifies supply deficit

    Data centres and logistics properties are likely to attract greater asset allocation from investors in the Asia-Pacific region this year, after the Covid-19 pandemic forced lifestyle changes in work and consumption nearer home, property analysts said.Faster adoption of e-commerce has boosted the appeal of logistics properties as supply deficit grows, especially in markets with large populations such as Australia, Japan and South Korea, according to M&G Real Estate in Asia, part of UK-based…

  • Electric car makers NIO, Xpeng, Tesla tap China’s shopping mall footfall with ‘experience’ stores

    Electric car makers are opening so-called experience stores at an unprecedented rate in China’s shopping malls, in a bid to market the benefits of environmentally-friendly motoring direct to consumers. Unlike traditional showrooms, the branded shops offer visitors anything from food and refreshments to libraries. And of course potential buyers can test-drive the cars. “EV car makers have entered into more than half [47] of 93 shopping malls in Shanghai tracked by us,” said Vivian Zhu,…

  • China EV war: Evergrande raises US$3.35 billion in plan to dominate Tesla, NIO and other home rivals

    China Evergrande is taking a step further in its ambitious plan to conquer the global electric vehicle (EV) market by making one of its biggest fundraisings yet from six private investors since switching its focus from the health care business in 2018. China Evergrande New Energy Vehicle Group, the developer’s Hong Kong-listed unit, is raising HK$26 billion (US$3.35 billion) selling 952.4 million new shares at HK$27.30 each, according to a Hong Kong stock exchange filing on Sunday. The price…

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