Property 

Homebuyers give their collective cold shoulder to new flats in Tuen Mun, Tai Po as persistent protest rallies weigh on sentiments

Hong Kong’s property buyers gave their collective cold shoulder to the biggest sale of new homes in a month, picking up just over 30 per cent the 442 new flats on offer, as sentiments stayed downbeat amid protest rallies that have persisted since early June.Wing Tai Properties sold 23 of the 110 flats at its OMA OMA project in Tuen Mun as of 9pm, according to sales agents. China Overseas Land & Investment sold 111 of 332 units on offer at The Regent in Tai Po, with a total contracted…

Read More
Property 

Trade war truce lifts confidence for Hong Kong’s homebuyers, bolstering sales at the third-biggest weekend launch of 2019

Hong Kong’’s third-largest weekend sales of residential property this year got off to a good start, as homebuyers piled into the market ahead of a property bull run that may be regaining its paces.Sentiments were also bolstered by the truce in the year-long US-China trade war, as the presidents Donald Trump and Xi Jinping agreed at the G20 meeting in Osaka to resume negotiations.More than 200 flats, or about 50 per cent of the 504 units of Grand Montara on offer by Wheelock Properties were sold… Source link

Read More
Home 

‘Sandwich class’ flat in Tsing Yi sells for record US$1.2 million as Hong Kong homebuyers get desperate

Hong Kong homebuyers, desperate to get their hands on property after a short-lived price correction, are chasing real estate in an obscure segment of the market as a bull market takes hold.On Monday, a 706 square feet flat at the 24-year-old Tivoli Garden in Tsing Yi, New Territories, was sold for HK$10 million (US$1.27 million), or HK$14,164 per sq ft, making it the most expensive unit converted from government funded abodes under the Sandwich Class Housing Scheme.In the early 1990s, the… Source link

Read More
Property 

Homebuyers snap up Hong Kong’s biggest weekend property sales in six years, convinced that the bull market is here to stay

Hong Kong’s biggest weekend home sale in six years got off to a decent start, as a double-digit surge in April property transactions gave buyers the confidence that the city’s real estate bull market is here to stay.A total of 1,148 new flats were offered across the city at Lohas Park, Tai Po and Ho Man Tin. Buyers packed salesrooms to snap up 735 new flats, about 64 per cent of the total, as of 6pm, with three more hours of selling to go, agents said.“The market sentiment is good,”…

Read More
China 

Homebuyers snub Beijing’s version of a ‘Help to Buy’ scheme, setting back Xi Jinping’s edict to make property affordable

The Beijing municipal government’s pilot programme to help residents get on the property ladder received the cold shoulder from homebuyers during its launch last week, in a setback that bodes ill for the scheme’s subsequent roll-out throughout the country.Home Joy, a complex of 1,244 apartments built by Beijing Rongjia Real Estate Development, one of 64 so-called Joint-Ownership Homes (JOH) programmes in the Chinese capital, sold only 60 units last week, while 3,900 registered buyers dropped… Source link

Read More
Home 

China’s smaller cities regain their mojo in March, as homebuyers return in droves, snapping a four-month deceleration in prices

The prices of China’s new homes snapped their four-month consecutive deceleration in March, recording a modest rebound last month as the easing of price-control regulations among the country’s far-flung smaller cities fuelled demand and prices.Prices advanced by 0.61 per cent in March, from February, at a faster monthly pace than the 0.53 per cent gain a month earlier, according to a Bloomberg calculation using National Bureau of Statistics data. New abodes cost more in March in 65 cities out… Source link

Read More
Home 

Carrie Lam joins homebuyers in expressing concern about prices rebound after Fed halts rate increases

Hong Kong’s head of government Carrie Lam Cheng Yuet-ngor has chimed in with a growing chorus of concern about a recent rebound in the city’s home prices, a day after the US Federal Reserve said it would not be increasing interest rates this year.“It does worry [me] because housing prices have already become very unaffordable, and they will become even more unaffordable if the reverse that we have seen since January this year is going to continue in the foreseeable future,” Lam said on the… Source link

Read More
Home 

Homebuyers spring into action after developers slash prices, cutting inventory as market outlook darkens

Wing Tai Properties, the Hong Kong unit of Singapore developer Wing Tai Holdings, sold more than 90 per cent of its flats on offer at Tuen Mun on Sunday, with some units priced as low as HK$9,488 per square foot (US$1,210), reflecting the weakest level seen in the neighbourhood since 2015. As of early evening, Wing Tai sold 108 out of the 118 flats in the first batch made available at the Carmel apartment project on Castle Peak Road in Tuen Mun. Prices for the units ranged from HK$3.32 million…

Read More
Property 

‘Government is crazy’: Increase in mortgages for first-time Hong Kong homebuyers will boost debt, limit cooling measures

A possible increase in the amount first-time homebuyers can borrow as mortgage may encourage people in Hong Kong to chase expensive property, further driving up prices in the world’s most expensive property market, analysts have said. This comes after Paul Chan Mo-po, the special administrative region’s Financial Secretary, hinted on January 5 that the government was considering relaxing “loan-to-value” ratios for mortgages to help first-time homebuyers. But he did not say when this might happen. A loan-to-value ratio represents the percentage of a property’s value a homebuyer can borrow. Is…

Read More
Property 

Hong Kong homebuyers beware: wait for better deals in second half of 2019

Buyer’s tip: wait until the second half of the new year before purchasing a home in Hong Kong. While prices have already begun to slide in the world’s least affordable housing market, experts say a mix of events in the first six months of 2019 will weigh down prices further. Savvy buyers should let those play out before taking the plunge, they say. These include a fresh supply of both new private flats and subsidised flats, possible mortgage rate increases, and cuts in asking prices by sellers who want to…

Read More