HK Tops NYC for Priciest Luxury Homes and More Hong Kong Real Estate Headlines

Leading today’s Hong Kong real estate news, the city has retained its crown as the world’s priciest market for luxury homes, edging out New York, London and other centres of extravagance. Also in the headlines, local property firm Easyknit International has secured over 80 percent ownership of a set of buildings in eastern Kowloon by buying a basket of residential units for HK$458 million. Not far away, a residential building on Prince Edward Road in Kowloon’s Ho Man Tin area is being marketed for HK$300 million. All these stories and more await you, if you just keep reading.

HK Has World’s Costliest Luxury Homes for 2nd Year

Hong Kong, where a manufacturer bought a lavish mansion last year for $360 million (HK$2.8 billion), is the world’s most luxurious housing market, according to annual rankings by Christie’s International Real Estate released Wednesday.

The Chinese city-state claimed the title for the second year, as it houses several of the world’s priciest homes and has attracted considerable activity from mainland Chinese buyers, according to 2017-18 data gathered from 80 luxury housing markets worldwide. New York, in second place, overtook London, which was in a distant third place, said Dan Conn, chief executive of Christie’s International Real Estate. Read more>>

Easyknit Buys To Kwa Wan Buildings for HK$458M

Easyknit International has acquired over 80 percent ownership in buildings at 470 to 478 Chatham Road North in To Kwa Wan for over HK$458 million ($58 million). The company has secured full ownership in building at 470 Chatham Road North, while having bought 82 to 86 percent ownership in the remaining properties.

The combined area for the site is 4,685 square feet (435 square metres). If developed into a residential and office project, the floor area for the property will be 42,165 square feet. Easyknit will file for a compulsory sale. Read more>>

Ho Man Tin Residential Building Put on Sale for HK$300M

A three-storey residential building at 264, 264A and 264B Prince Edward Road West, Ho Man Tin has been put on sale via tender, which will close on July 5, according to Savills. The asking price for the property is around HK$300 million.

The building sits on a site with an area of 5,767 square feet. The nine units in the property are currently all leased out. Read more>>

SHKP Malls Post 9% Sales Increase in 2017

The 10 shopping malls operated by Sun Hung Kai Properties have recorded HK$15.7 billion sales in 2017, up by 9 percent. Customer flows increased by 10 percent to 370 million, the company said.

Fiona Chung, general manager of the leasing department at Sun Hung Kai Real Estate Agency, said promotions expenses for the 10 malls reached a record HK$16.12 million, for the soccer World Cup next month. She predicts that the total customer flows and sales during the promotion period (June 14 to July 15) will rise by 19 percent and 36 percent year-on-year. Read more>>

Family Home of Late Tycoon Cheng Yu-Tung Burgled

A luxury home owned by the family of late Hong Kong property tycoon Cheng Yu-tung was found burgled for the second time in two years on Thursday morning, with jewellery and HK$30,000 ($3,820) missing.

A female housekeeper reported the case at 5.46am, saying there had been a burglary at 12 Repulse Bay Road. Initial investigation showed that about 10 pieces of gold jewellery, some red packets and cash were taken after the burglar entered an unoccupied main bedroom and a storeroom. Read more>>

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