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.
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.
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