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Hang Seng ends with tiny loss as normalcy returns to Hong Kong after huge protests

The Hang Seng Index closed slightly down while China shares eked out a tiny gain, as traders battled nerves over trade uncertainty while feeling excited about the official launch of a Nasdaq-style board on the mainland and a return of normalcy in Hong Kong after large protests.The Hang Seng fell 0.05 per cent to 27,294.71, crawling out of a morning hole in which lows were as deep as 1.6 per cent. In addition to trade, investors were focused on ongoing tension over a controversial proposal that… Source link

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Property 

New ‘tiny home’ benchmark for Kowloon as developer rolls out Sham Shui Po project in layouts beginning at 129 sq ft

Hong Kong’s Kowloon district is about to realise a new benchmark for tiny home sizes that will test the market’s tolerance for what’s considered liveable space, with one developer set to launch a project in Sham Shui Po featuring layouts starting at 129 square feet, the smallest on record for the area. The 22-storey residential block named AVA 228 will feature 160 units with sizes ranging from 129 sq ft to 249 sq ft, according to the website of Magic Sight Holdings, a privately held developer owned by property investor…

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Property 

Hong Kong’s building boom in tiny flats fizzles out as T-Plus in Tuen Mun gets the cold shoulder

Speculative demand over Hong Kong’s shoebox flats – each smaller than the size of a standard car parking space – appears to be over as quickly as it sprouted, following the decline in the city’s median home price. Two potential buyers showed up at 11am at the sales office of the T-Plus project in Tuen Mun to inquire about its tiny apartments, each at around 130 square feet (12 square metres), with a price tag starting at HK$2.85 million (US$364,600), sales agents said. “Two flats were sold (at T-Plus) today,”…

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Property 

Hong Kong developers to build larger flats as tiny homes lose appeal amid increasing public housing supply

Hong Kong developers are having to rethink their approach to tiny flats, as the strategy of building low-priced homes no bigger than a car park space is being squeezed by the government’s commitment to increase the supply of public housing, according to commercial real estate service provider JLL. During her policy address on October 10, Chief Executive Carrie Lam Cheng Yuet-ngor pledged to increase the proportion of public housing by adjusting the target public-private housing ratio for land supply to 70:30 from 60:40. “The increase in subsidised housing may sap…

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