International property consultant JLL's latest Residential Sales Market Monitor report shows Hong Kong's luxury residential capital values saw a 0.8% rebound q-o-q in the first quarter of 2021 after dropping 8.2% in 2020, while luxury rents remained largely flat with a mild drop of 0.2% q-o-q; both recorded the best performance since the second quarter of 2019.
According to JLL's newly released Residential Market Monitor report, Hong Kong property developers are expected to reconfigure apartment design to suit the working needs of dwellers as flexible workplace arrangement becomes more common in 2021.
According to CBRE data, which tracks property transactions valued above $10 million, half of the HK$4.4 billion ($567.75 million) deals completed in the third quarter were purchased by mainland investors.
Hong Kong, Singapore and Osaka have just been ranked as the world's most expensive cities to live in.
Relaxed mortgage rules in Hong Kong that allow buyers to take on bigger loans will drive small-to-medium flat sales, property agents say, with the changes already prompting some sales.
Hong Kong's financial chief urged landlords and property developers on Friday to offer rent subsidies to retailers and food and beverage businesses suffering after four months of protests that have dented tourism and consumer spending.
Hong Kong-based property investors are looking for safe havens in London after high-profile political protests at home.
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.
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