HK - Housing 01 (May 08 - Aug 11)

Re: HK - Housing 01 (May 08 - Jun 11)

Postby winston » Fri Jun 10, 2011 7:57 am

Peak house sells for record HK$800m

A house on The Peak has sold for HK$800 million, or HK$96,362 per square foot, creating a city record.


Source: SCMP
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Re: HK - Housing 01 (May 08 - Jun 11)

Postby winston » Fri Jun 17, 2011 4:13 pm

DJ MARKET TALK: China Buying Won't Prevent HK Property Correction-JPM

1527 [Dow Jones] A strong economy, record low interest rates, quantitative easing, mainland buyers and no forced sellers are the reason why Hong Kong property prices are so high, says JPMorgan.

The house adds that the property bulls emphasize the impact of mainland Chinese buyers, saying their motivation is more than simply the utility of a roof over their head, with the additional benefits of owning a HK property including potential residency in HK, educating their children here, offshore asset and "the cache of the ultimate statement, a property in the Monaco of China."

But the house adds, "this was the case in 1997," with equity bulls in 2007 used mainland buyers to justify record high H-share valuations, but in the end, "the non-economic buyer typically delays rather than prevents the correction."

Source: Dow Jones Newswire
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Re: HK - Housing 01 (May 08 - Jun 11)

Postby winston » Thu Jul 14, 2011 8:07 am

Broker sees 20pc fall in HK home prices

Property bulls beware: the city's real estate sector could be vulnerable to a slowdown or even a significant fall, according to broker CLSA Asia-Pacific Markets.

Source: SCMP
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Re: HK - Housing 01 (May 08 - Jul 11)

Postby winston » Wed Jul 27, 2011 11:42 am

Mainland Chinese buyers accounted for 40 percent of firsthand purchases of luxury property worth more than HK$12 million ($1.54 million) in Hong Kong in the first half of the year, marking a record high, data from Midland Realty showed.


Source: HONG KONG ECONOMIC TIMES
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Re: HK - Housing 01 (May 08 - Jul 11)

Postby winston » Wed Aug 17, 2011 6:26 am

Didnt some expert also mentioned that HK properties will also rise 5-10% this year ? And no more leakages to provide the liquidity ?

Expert sees possible 20pc dive in HK property prices by Karen Ha
Wednesday, August 17, 2011

Property prices in Hong Kong could tumble by up to 20 percent if the general global sentiment remains negative, CB Richard Ellis warned yesterday.

"We expect to see a correction of 5-10 percent in residential prices over the next 6-12 months. If sentiment continues to weaken, a correction of up to 20 percent would not be surprising," said Edward Farrelly, head of Hong Kong Research at the property consultancy.

The US Federal Reserve has vowed to maintain ultra-low interest rates until 2013, but this is unlikely to help boost home buyers' sentiment as the market remains vulnerable to credit risks, Farrelly said.

However, he noted Hong Kong's property market is still in a "relatively good position" as growth of the territory is not expected to weaken like developed Western economies.

Also, the market is not oversupplied and investors tend to turn their investments to emerging markets, including Hong Kong, during global downturns.

Another property consultancy, Midland Realty, expects property prices to remain flat or drop slightly for the rest of the year, after rising about 10 percent in the first seven months of the year from the same period in 2010.

Developers, meanwhile, are continuing to put new flats on the market. The Wings, a Tseung Kwan O residential project co-developed by Sun Hung Kai Properties (0016) and MTR Corp (0066), is expected to be available for sale soon.

Sung Hung Kai said it has not yet figured out when to introduce the flats to the market.

The pricing is expected to set a new benchmark for the district. The Wings will comprise 1,028 units, mainly between 1,000-1,400 square feet.

Some larger units are more than 2,500 sq ft.

Owners of similar-sized flats in the neighborhood are now asking for HK$8,000-HK$8,300 per square foot.


http://www.thestandard.com.hk/news_deta ... 10817&fc=4
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