Hong Kong’s Lands Department on Wednesday announced that a plot of residential land on what had been the runway of the city’s former Kai Tak Airport has been awarded to local development giant, Sun Hung Kai Properties, for HK$11.26 billion… Read More>>
Hong Kong Wins Housing Misery Contest for 9th Straight Year
Hong Kong housing has been ranked as the least affordable in the world for a ninth straight year, according to the results of a survey published today by non-profit group Demographia.
The median home price in the Asian financial capital… Read More>>
Hong Kong Homebuyer Eats HK$36M Deposit to Renege on Mount Nicholson Deal
Less than two weeks after agreeing to purchase a home at Hong Kong’s Jardine’s Lookout for HK$721.88 million ($92.1 million), an unnamed buyer has walked away from the deal, forfeiting a HK$36 million deposit, according to Hong Kong public records.
Hongkong Land Said Suing HNA for HK$8.3M in Unpaid Office Fees
Central’s biggest landlord is suing China’s biggest financial train-wreck for unpaid fees from an eight-floor office that was never occupied, according to a report in the South China Morning Post.
A unit of Hongkong Land is suing HNA Group after… Read More>>
CK Asset Proposes Converting Hong Kong Hotel into 5,000 Homes
Hong Kong conglomerate CK Asset is proposing to convert a Hong Kong hotel into a 5,000-unit housing estate, the company revealed in a filing with the city’s town planning board.
The listed company controlled by the family of retired tycoon… Read More>>
Hong Kong Office Rents Rose to Record Levels in Q4 Despite Slowdown
Despite a slowdown in the Hong Kong commercial real estate market, office rents in the Asian financial hub rose to record levels in the fourth quarter, reaching an average of HK$146 ($18.62) per square foot per month on a net… Read More>>
Mainland Developer Said to Back HK$1.86B Purchase of Hong Kong Luxury Site
Carnival Group International Holdings has agreed to sell a low-density residential project on the south side of Hong Kong Island for HK$1.86 billion ($237 million), according to a Hong Kong Stock Exchange filing, bringing the tourism-focused developer a 43 percent capital… Read More>>
HK$58 Million Shave on Hong Kong Villa Takes Shine Off Luxury Market
Hong Kong’s bellwether for extravagant living — housing prices Peak area — suffered a proper dinging after a residence in the tony Mount Nicholson development sold at a price whose discount alone would build a stately mansion almost anywhere else… Read More>>
COLI Wins Plot on HK’s Former Kai Tak Runway for Bargain HK$8B
China Overseas Land & Investment (COLI) picked up Hong Kong’s final residential plot of the year for a bargain HK$8.03 billion ($1.03 billion), as clouds gather over Asia’s most expensive real estate market.
The state-run mainland developer purchased the site on… Read More>>
Hong Kong Office Rents Grew Just 0.3% in November on Declining Market
The grade A office rental market in Hong Kong showed signs of further softening in November, with several major real estate services firms in agreement that leasing demand would continue to dissipate on the back of a declining economy, rising… Read More>>
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