HK - Housing 03 (Sep 13 - Mar 16)

[winston]

K Wah boss tips flat prices to fall 10-20pc

K Wah International Holdings (0173) chairman Lui Che-woo said local home prices are likely to fall by 10 to 20 percent.

Lui's comment came after two repossessed luxury homes at The Arch, atop MTR Kowloon Station, were auctioned at about 10 percent below market price for HK$11.18 million and HK$13.26 million.

Lui, speaking at the group's interim result announcement yesterday, said prices could fall further if construction costs do not stay at a high level.

http://www.thestandard.com.hk/news_deta ... 0830&fc=10

[winston]

Jardine's Lookout flat sells at 13pc below valuation

More homeowners are off-loading their flats at below market price, with one unit at the posh Jardine's Lookout being sold for as much as 13 percent below bank valuations.

http://www.thestandard.com.hk/news_deta ... 30903&fc=2

[winston]

CLSA sees Hong Kong property prices falling 15pc by end of 2014

Firm's analysts reckon prices in the city peaked in February and have fallen 3 per cent since then

CLSA now expects property prices on the mainland to increase 9 per cent this year. It had forecast a 3 to 8 per cent rise.

Hong Kong brokerage CLSA, owned by Citic Securities, expects property prices in the city to drop 15 per cent by the end of next year as the government's market-cooling measures take effect.

"Prices will correct a little more if interest rates are raised and the economy weakens," CLSA's regional head of property research, Nicole Wong, said yesterday when releasing reports on the Hong Kong and mainland property markets.

CLSA said Hong Kong property prices had declined 3 per cent from their February peak.

http://www.scmp.com/property/hong-kong- ... c-end-2014

[winston]

New home sales fail to tap holiday mood

New home sales during the three-day Mid-Autumn Festival break were just one-eighth those of last year as lackluster sentiment lingered despite the US Federal Reserve refraining from winding down its monthly bond purchase.

http://www.thestandard.com.hk/news_deta ... 30923&fc=1

[winston]

Hong Kong Home Prices to Drop as Barclays Joins UBS, Merrill By Kelvin Wong

Barclays Plc joined UBS AG (UBSN) and Bank of America Corp. in forecasting a Hong Kong property slump, predicting home prices will fall at least 30 percent by the end of 2015 as income growth stalls and supply increases.

http://www.bloomberg.com/news/2013-10-2 ... -says.html

[winston]

Hong Kong Luxury Property Prices Choked by Tightening: Mortgages by Kelvin Wong

Nov. 11 (Bloomberg) -- Hong Kong businessman Raymond Chiu says he has perfect credit and is prepared to spend about HK$16 million ($2 million) on a 1,000-square-foot apartment in the city’s Mid-Levels residential area.

There’s just one catch. The government requires a 50 percent down payment.

http://www.sfgate.com/business/bloomber ... 973194.php

[winston]

Buyers forfeit deposits amid cooling market by Karen Chiu

At least 15 homebuyers at four new projects chose to forfeit hefty deposits rather than complete purchases in signs the red-hot sentiment in the property market is waning.

Agents said the buyers - mostly investors - are eyeing better deals at two upcoming projects where prices are relatively reasonable.

http://www.thestandard.com.hk/news_deta ... 31121&fc=7

[winston]

Citibank sees home prices fall 10% in 2014

The research unit of Citibank projected the real property price will gradually decrease by 10% in 2014, since the withdrawal of the Fed will hinder housing acquisitions, plus the recent incentives introduced by various developers had absorbed certain demands.

In addition, there will be no urgent need for the government to ease its "spicy measures", if the dwelling price is mildly adjusted.

Source: AAStocks Financial News

[winston]

Centaline dispels forecast of gloom

Local property prices will likely rebound in the second half next year after plunging by up to 15 percent in the first six months, Centaline Property Agency forecasts.

http://www.thestandard.com.hk/news_deta ... 31219&fc=7

[winston]

Property transactions last year fell to a 17-year low of 70,503 deals after authorities imposed a series of housing curbs and the new law on first-hand flat sales.

This represents a 39 percent plunge from 2012 and a 35.2 percent fall from 2011, the Land Registry revealed.

Source: The Standard