HK's URA to acquire 159 flats at record prices
A clutch of shabby flats at To Kwa Wan in Kowloon, Hong Kong are set to be offered at record prices.The Urban Renewal Authority (URA) is all set to pay HK$9,785 psf to acquire 159 flats in a region bounded by Chun Tin Street, Ma Tau Wai Road and Hok Yuen Street. The shabby flats will be replaced...
Continue Reading • 18 May 2011
HK land sites sold above estimates
Three sites in Hong Kong offered by the government for land auction fetched a staggering price of HK$5.7 billion, above analyst estimates, according to The Standard.This marks the developers' confidence that property curbs have not softened demand for luxury homes.The 158,231-sq-ft site of former...
Continue Reading • 16 May 2011
Plans unveiled for 10 Trinity Square in London
The latest owners of 10 Trinity Square in London — KOP Properties, the property investment and management subsidiary of Singapore-based KOP Group, and Reignwood Group, which jointly acquired the building — have revealed their redevelopment plans for the famous landmark building.This...
Continue Reading • 13 May 2011
HK luxury homes draw China buyers
Wealthy mainland Chinese are acquiring luxury homes worth over HK$100 million each on The Peak and in the Southern District. Hui Ka-yan, Chairman of Evergrande Real Estate, spent more than HK$400 million last year on a 6,000 sq ft house at 6-10 Black’s Link on The Peak, according to reports...
Continue Reading • 13 May 2011
China's home sales value down 21%, says new data
The transaction value of homes sold in China dropped 21 percent in April, after the central government expanded its cooling measures to curb the risk of asset bubbles.Based on Statistics Bureau data, China’s home sales transaction value fell to 324.9 billion yuan (S$61.6 billion) in April,...
Continue Reading • 12 May 2011
Luxury apartments near London's Westminster Abbey to launch in HK
Nine luxury apartments located on Great Peter Street near Westminster Abbey will be launched in Hong Kong on 14 and 15 May 2011.The launch, which will be held at the Conrad Hotel in Pacific Place, Admiralty, will showcase why 35 Great Peter Street is a London investment that simply should not be...
Continue Reading • 12 May 2011
Singapore-based investors eyeing Malaysia property market
Malaysia is set to become the next possible destination for investors from Singapore, according to a government official from the middle-income economy while citing actions taken to strengthen the business environment.“With housing prices in Singapore escalating, Singapore-based investors...
Continue Reading • 11 May 2011
Asking prices for auction plots in HK rise
The price estimates for three plots of land set for auction tomorrow have increased, primarily attributed to the healthy market.A site in Ngau Tam Mei and the former Lingnan University site on Stubbs Road, 62 Begonia Road in Kowloon Tong are expected to yield a total of approximately HK$6...
Continue Reading • 11 May 2011
Saudi property prices soar on higher lending
Property prices in the Kingdom of Saudi Arabia rose this year, boosted by an increase in lending by private banks and government funds.According to a Banque Saudi Fransi survey, the average price of residential land across Saudi Arabia rose to 1,631 riyals (S$537) psm, up 13.5 percent from 30...
Continue Reading • 10 May 2011
China developers struggle as govt tightens property market
Property developers from China are facing stagnant sales and increased losses in the midst of Beijing’s efforts to cool the hot real estate market.“The recent government control over its property market has restrained half of the demand. Small property developers will first feel the...
Continue Reading • 10 May 2011
Mainland buyers aggressively snapping up new HK homes
Wealthy mainlanders acquired as many as 60 units of a new housing project during the weekend, taking advantage of the yuan crest.Kerry Properties sold 195 units over the weekend at Lions Rise, its Wong Tai Sin residential project. Of these, 60 flats (over 30 percent) were sold to mainland buyers,...
Continue Reading • 9 May 2011
China could extend property curbs to smaller cities
China may extend the implementation of property curbs to third and fourth-tier cities to contain the risk of property bubbles, after developers and investors flocked inland following the clampdown on property prices, according to the report of Shanghai Securities News.Beijing plans to expand the...
Continue Reading • 6 May 2011
Kerry Properties to release some 400 units in HK project for sale
Kerry Properties will release some 400 units in the Lions Rise residential project for sale and is confident that they will be sold out, allowing the developer to raise approximately HK$5 billion.Chu Ip-pui, Executive Director of Kerry Properties, revealed that 350 to 400 units will be released...
Continue Reading • 6 May 2011
St. Regis Bangkok unveils completely customised residence
Starwood Hotels & Resorts Worldwide Inc. and Minor International PCL have announced the launch of a fully customised residence at The Residences at The St. Regis Bangkok, designed in partnership with Infine design and Lotus Arts de Vivre collection.Launched on 1 April 2011, the highly...
Continue Reading • 5 May 2011
HK residential sales drop to 2-year low
Homes sales in Hong Kong dropped to their lowest level in over two years in April, as increasing mortgage rates and government curbs fuelled concern that a two-year price surge may come to an end.The number of transactions fell by 37.6 percent to 7,635 homes in April, the lowest since March 2009,...
Continue Reading • 5 May 2011
HK's secondary home sales an indicator of market condition
The secondary home market in Hong Kong is more suggestive of the effects of the government’s tightening measures than the results of the Hung Hom land auction, according to Thomas Kwok Ping-kwong, Vice Chairman and Managing Director of Sun Hung Kai Properties (SHKP).“There are...
Continue Reading • 4 May 2011
No property bubble in China, says HK developer
“Humongous demand” from consumers and actions by the central government reduce the possibility that China’s real estate market will collapse, according to Ronnie Chan, Chairman of Hong Kong-based developer Hang Lung Properties Ltd.The concern over a property bubble is a...
Continue Reading • 3 May 2011
HK home prices spike, show flats attract thousands
Several new home launches scheduled this week will expect healthy response, going by the thousands viewing show flats over the long weekend.Kerry Properties raised prices above HK$10,000 psf at its Lions Rise development in Wong Tai Sin, after registering over 3,000 visitors a day during the...
Continue Reading • 3 May 2011
Hung Hom land auction boosts confidence in HK property market
Strong response to the year’s first land auction has boosted confidence in Hong Kong’s real estate market.Several deals immediately after Wednesday’s sale of the 20,470 sq ft Hung Hom plot represented gains in prices.For example, a unit at Harbourfront Landmark in the same...
Continue Reading • 29 Apr 2011
HK land auction smashes forecasts, fails to cool public anger
Hong Kong’s recent land auction has beaten pre-sale projections, invalidating government efforts to curb the rising prices and cool public resentment at the city’s sizzling real estate market.Hong Kong has launched a series of land auctions over the past 18 months and amid warnings of...
Continue Reading • 28 Apr 2011