Leading today’s Hong Kong roundup, the city’s pipeline of real estate funding has surged to $13.2 billion, the highest since the second quarter of 2015, as developers bag big bank loans. Also in the headlines, construction of small flats hit an 18-year high last year, and a Hong Kong investor has joined in the enthusiasm for student housing overseas. There’s more below if you just keep reading.
The pipeline for property-related loans in Hong Kong has ballooned to $13.2 billion as developers scramble to boost funding, countering policymakers’ efforts to rein in a market that continues to skyrocket.
Potential funding for the real-estate sector accounts for more than 40 percent of total upcoming volumes in the city, according to data compiled by Bloomberg. Read more>>
According to the Rating and Valuation Department, completion of private residential flats reached 17,800 in 2017. Small units have seen the most significant rise of 75 percent compared to 2016, totalling 6,891 last year.
The number of small flats completed last year was also the highest in 18 years. Small units are those with an area of less than 431 square feet (40 square metres). Read more>>
Knight Frank’s student property team has sold Agnes Jones House and Bedford Street South in Liverpool on behalf of receivers GVA, for more than £14 million ($19.5 million).
The student accommodation blocks have been sold to a Hong Kong-based client of London’s Estate Office Property Consultants. The buildings total 370 bedrooms, and are based near to both the University of Liverpool and Liverpool John Moores University’s Mount Pleasant Campus. Read more>>
Jeffrey Liu, the third generation of Hong Kong’s Liu Chong Hing family, has purchased two commercial units for HK$260 million. Liu bought a full floor of 37,172 square feet in Cable TV Tower at 9 Hoi Shing Road Tsuen Wan for HK$195 million, or HK$5,246 per square foot.
Liu also paid HK$64.5 million for a floor of 5,605 square feet in SUP Tower, 75-83 King’s Road in North Point. The price equates to HK$11,499 per square foot. Read more>>
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