Even as events conspire to dent its prices and sales volume, Hong Kong remains the world’s most expensive housing market.
The government’s HK$624 billion proposal to reclaim 2,471 acres of land around the territory’s largest island, Lantau, has been touted as a solution to the pressing housing shortage in the city.
Prime property price growth in key cities around the world slowed in the second half of 2018 to just 0.4% but overall increased by 2.3% across 2018, the latest international index shows.
After walking through a deserted plot of rural land on an unevenly paved road, Gilbert Wong arrives at a metal-fenced gate that looks like the entrance to a warehouse, or maybe a car park -- ubiquitous in Hong Kong’s New Territories.
Residential property prices and rents continued to fall across Hong Kong in December, with the market recording the reporting the fastest decline in prices since March 2016.
Residential property prices and sales in Hong Kong are expected to slow over the next year as buyer demand falls, according to the latest market survey.
Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening.
Prices for prime waterfront properties around the world are on average 40% higher than comparable properties inland, new research has found.
Both property prices and sales are predicted to fall in Hong Kong over the next three to 12 months, with rents cooling too, according to a new analysis.
Last week, before the land sale, surveyors lowered their estimates by 5 to 10 percent from previously forecast, to value the site between HK$7.75 billion and HK$9.2 billion.
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