HK Prop Mkt

[Behappyalways]

thanks. didn't notice that I duplicate the post. sorry for the trouble cause

[CY09]

No problem

[specuvestor]

I just noticed CY09 and Weijian are our new moderators thanks guys and keep up the good work! It is a high bar 

Personally i find it really tough and stressful to be a HKer with such volatile residential property prices

[weijian]

I just noticed CY09 and Weijian are our new moderators thanks guys and keep up the good work! It is a high bar 

Personally i find it really tough and stressful to be a HKer with such volatile residential property prices

hi specuvestor, it is my privilege to serve to the VB community at large. My dad always has this saying - if you are kind to Mother Nature, She will return in favour.

I have learnt from VB over the past 5-6 years. It's time to give back whatever I can. I will do the best to learn to keep the high bar too.

[cyclone]

Li Ka-Shing Signals Hong Kong Property Rebound Could Last Years

by Prudence Ho , Moxy Ying , and Fion Li
March 22, 2017, 7:49 PM GMT+8 Updated on March 23, 2017, 10:12 AM GMT+8

Hong Kong’s richest man signaled that the property rebound that’s been pushing up prices in the world’s most expensive housing market could persist for as long as two years as growing demand outweighs government curbs.

"I cannot see how property prices would fall in the coming one to two years," Li Ka-shing, the 88-year-old head of Cheung Kong Property Holdings Ltd. and CK Hutchison Holdings Ltd., said during his annual earnings press conference on Wednesday. "The force from buyers is very strong."

The resurgent home market has posed a headache for Hong Kong’s leaders and stoked rising discontent among the city’s residents. After a short-lived dip, home prices have soared in the past year to hit records. Existing home prices have advanced 17 percent from a low point about a year ago, according to the Centaline Property Centa-City Leading Index.

More details in https://www.bloomberg.com/news/articles/...last-years

[weijian]

It's funny that properties are not included. I guess the rule makers and its bosses, do have alot of properties!

Chinese money floods into Hong Kong property, as Beijing set to check taxpayers’ foreign financial accounts

Wealthy Chinese have been rushing to snap up Hong Kong properties, as Beijing prepares to raise the scrutiny level on its own taxpayers’ overseas financial assets, from July 1, market observers say. From that date, China’s top tax authority will start being able to take action against its own residents hiding assets overseas, including bank savings, securities, insurance products and trust funds, but not property.

http://www.scmp.com/business/article/210...rs-foreign

[Elty]

https://www.bloomberg.com/news/articles/...nd-the-law

Rental has become so high that people have to live in industrial building.

[cyclone]

Hong Kong’s homebuyers return in droves as banks kept mortgage rates unchanged amid a dovish monetary policy
* Across the city, 607 flats were offered for open sale by four developers in Lohas Park, To Kwan Wan, Yau Tong and West Kowloon
* About eight of 10 units for open sale were sold as of 8pm, agents said, adding that New World’s Artisan Garden already sold out

Lam Ka-sing  
Published: 5:30pm, 23 Mar, 2019

Hong Kong’s property buyers are back in droves, as commercial banks kept the city’s mortgage rates unchanged amid a dovish policy stance by the local monetary authority.

Across the city, four property projects with 607 flats in total were offered for sale in Lohas Park, To Kwa Wan, Yau Tong and West Kowloon in the biggest weekend launch in a year. As of 8pm, 496 of the total offering, or nearly 82 per cent, had been sold, according to sales agents.

“The purchasing power accumulated from months of pent-up demand had been released,” said Midland Realty’s residential division chief executive Sammy Po, who noted that five buyers had each bought two flats for a weekend shopping bill of between HK$12 million and HK$13 million.

Hong Kong’s property bull market had been struggling to regain its footing since prices stumbled last August following the city government’s plan to use a vacancy tax to bolster supply. The weekend’s brisk sales – combined with a slight increase in pricing – stoked concerns that housing affordability may return as a problem, after five months of cooling off.

Last week, the city’s Chief Executive Carrie Lam Cheng Yuet-ngor chimed in to express her concern about housing prices, which were showing signs of revival. Hong Kong is still one of the world’s most expensive urban centres, putting housing beyond the reach of many first-time buyers and school leavers.

Still, eight months after prices began to dip, many buyers were already jumping back into the market, especially for newer projects like New World Development’s Artisan Garden project in To Kwa Wan, which drew 3,700 bids for 294 available units.

More details in https://www.scmp.com/property/hong-kong-...t-mortgage

[dreamybear]

I think it works both ways - bargain price can be even cheaper, unaffordable can be even more expensive ? 
---------------------------------------------------------------------------------------------------
For Hong Kong property prices, the sky's the limit
Sat, Jun 01, 2019 - 5:50 AM

Hong Kong

IN THE world's most-expensive real estate market, the sky's the limit. Property prices in Hong Kong reached an all-time high on Friday after relentless gains over the past three months......

In some quarters, the demand has never let up. At Wheelock Properties' Montara project in the Tseung Kwan O area, 103 potential buyers have been vying for each unit, making it the most competitive project since 2013, the Hong Kong Economic Times reported on May 10....

A CBRE Group report in April found that the city has the highest average home price at US$1.2 million, as well as the highest average prime property price at US$6.9 million......

More details : https://www.businesstimes.com.sg/real-es...-the-limit

[specuvestor]

The rebound in HK property market is mind numbing

Of the bubbly markets I mentioned 3-4 years back, from China to HK to Australia to London and NY, only HK defies gravity after a short correction even as mortgage rate trends up. Plus it is no longer the premier city in the hosts of Chinese cities vs say 10 years ago.

My guess is this is going to start ending quite badly in next 18 months.

https://www.valuebuddies.com/thread-7235...#pid148377