Hong Kong is turning to the flood of wealthy investors picking up luxury homes in the city to shore up its finances as an ongoing office slump crimps the land sales revenue it has long relied on to run the… Read More>>
Hong Kong to Halt Commercial Land Sales in Attempt to Cure Office Slump
Hong Kong will put commercial land sales on hold for the coming financial year, the city’s financial secretary Paul Chan Mo-po announced on Wednesday, citing “considerable challenges” afflicting the sector and high vacancy rates.
“In view of the high vacancy… Read More>>
Hong Kong Hopes Home Prices Don’t Fall Further and More Asia Real Estate Headlines
The Hong Kong government talks up the housing market and warns of a ballooning budget deficit, with that story leading today’s headline roundup. Also in the news, Seoul office deals record their first annual growth since 2020 and Shanghai lived-in… Read More>>
Hong Kong Budget Scraps Stamp Duties to Boost Struggling Housing Market
Hong Kong is rolling back all taxes on residential property transactions in an effort to put a floor under a protracted housing market slump that has seen residential property prices slide to seven-year lows.
In his annual budget speech to… Read More>>
Hong Kong Cuts Tax for First-Time Buyers of Smaller Homes in Bid to Boost Market
Hong Kong’s finance chief delivered the city’s budget in a speech on Wednesday, with the planning document introducing tax cuts for first-time buyers of small homes as the government tries to jump-start sales in the world’s least affordable housing market.
Thousand Home Site Up for Tender in Singapore and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, a development site expected to yield 1,040 homes goes up for sale in Singapore, Hong Kong’s finance chief digs in his heels as his rent deferral plan takes flak, and offices in Seoul’s… Read More>>
Hong Kong Halves Rent Relief Period to 3 Months and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Hong Kong’s government backtracks on its planned six-month rent moratorium, Chinese developer Shimao reports slumping sales at its Shanghai-listed unit, and proxy advisors sign off on the proposed merger of ESR-REIT and ARA… Read More>>
Hong Kong Leaders Push Retail Landlords for Rent Breaks as Covid Rocks City
Following the announcement of a rental moratorium to support retailers as part of Hong Kong’s budget rollout last week, financial secretary Paul Chan is urging Hong Kong developers to, “consider lowering rents or adjusting the rent structure (as much as)… Read More>>
Hong Kong Aims for Sale of 13 Residential, 4 Commercial Sites This Year
Hong Kong’s government on Wednesday released a fiscal 2022-23 budget promising to increase land sales for housing and commercial development and tap cash reserves to jump-start infrastructure works within the planned Northern Metropolis.
In an announcement shadowed by the city’s… Read More>>
Shop King Said Buying Kwai Chung Asset for HK$1.6B and More Hong Kong Real Estate Headlines
Leading today’s Hong Kong real estate news, the city’s “Shop King” Tang Shing-bor seems to be snapping up another shed, with reports that the veteran real estate investor paid HK$1.6 billion for a 13-storey industrial building in the Kwai Chung… Read More>>