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.
Guess which city managed to top a luxury real-estate ranking despite a slew of cooling measures to tame its property market?
An assessment of land rights in Hong Kong: exploring the implications of the small house policy
Chicago may be freezing cold for parts of the year, but it has one big advantage over global cities such as New York, London and Hong Kong: it’s affordable.
Housing market dangers are “especially acute” in Australia, Hong Kong, Canada and Sweden, Oxford Economics said, noting this has historically posed a threat to economic activity.
HSBC Holdings, Bank of China (Hong Kong) and Hang Seng Bank said late on Wednesday they will raise new mortgage rates from Monday
Any cooling in prices would be good news for the government, which has repeatedly vowed to make housing more affordable in a city often cited as the least affordable in the world
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