Offer free yoga classes and you can market this to bankers as co-living
Leading today’s headlines in the world’s priciest property market, Hong Kong’s youth continue to expand the sharing economy from the office into their homes, and property sales in the city are expected to have totalled $103.6 billion in the now-departed Year of the Rooster. That change in years also figures in a ten percent increase in traffic at some of the city’s biggest malls as consumption jumps in the Year of the Dog. All these stories and more await you, if you just keep reading.
HK Youth Turn to Co-Living as Property Prices Climb
Co-living is being embraced in many Asian cities by younger workers, particularly from the IT sector, with operators able to charge rents even higher than ordinary homes in many cases.
But in Hong Kong, the emerging sector is only still being viewed as a short-term solution to the city’s housing problem, offering affordable homes to those who could otherwise only afford to stay in the family home, share a rented flat or live in the city’s notorious subdivided flats, according to international property consultant JLL. Read more>>
Property Sales in the Year of the Rooster Set to Hit Record $103B
Property sales in Hong Kong were expected to jump 44 percent to HK$810.5 billion ($103.6 billion) from nearly 90,000 transactions in the just concluded Year of the Rooster and the rising momentum is likely to continue in the Year of the Dog, according to bullish predictions from market observers.
As of February 12, 88,944 property transactions totalling HK$796 billion had been concluded, according to data from Ricacorp Properties released on Monday. Sales in the Year of the Monkey totalled HK$563.4 billion from 74,218 deals. Read more>>
Shopping Jumps 10% at SHK’s 10 Biggest Malls Over Holiday
Sun Hung Kai Properties ten biggest malls welcomed 11.5 million visitors during the last week of the Year of the Rooster and the first four days of the Year of the Dog, a rise of 10 percent compared to the same period last year. The malls recorded a sales volume of HK$760 million sales volume, up by 9 percent year-on-year.
The property developer spent HK$25 million to promote Chinese New Year and Valentine’s Day campaigns in the ten malls in areas such as Sheung Shui, Tseung Kwan O and Mongkok. Read more>>
New World Sells HK$2B in Flats in 2018’s First Two Months
New World Development has generated HK$2 billion in revenue by selling flats in the first two months of this year. Out of this total, the company’s Mount Pavilia project in Clear Water Bay accounted for 23 transactions.
The builder plans to launch four new projects with about 1,650 units in the Year of the Dog, including Fleur Pavilia in North Point, and projects in Ho Man Tin, Ma Tau Kok and Yuen Long. Read more>>
Tune in again later for more Hong Kong news, and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
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