Hong Kong Housing Prices To Fall A Further 10% — A Nomura Holdings Inc. report indicates that Hong Kong home prices will fall %10 due to stalling income growth and looming interest rate hikes. —Bloomberg.com
Hong Kong Housing Project In Yuen Long Attracts Buyers Despite Market Downturn — More than 16,700 potential buyers signed up for Sun Hung Kai Properties’ latest residential project. SCMP.com reports that 308 flats have already been sold. Buyers were attracted by lower prices and amenities.
Berlin Burst Onto The Main Stage For Hong Kong Real Estate Investors — The real estate company Buy Berlin recently opened an office in Hong Kong, hoping to attract local investors. The firm believes that Hong Kong investors will turn to Berlin in the same way it did to hot overseas property markets London, New York, and Sydney.— Yahoo Finance
Hong Kong, The Most Expensive City in Asia-Pacific For Business Travel — An annual survey performed by ECA International, finds Hong Kong as the most expensive destination for business travelers. SCMP.com reports that this ranking was attributed to hotel room rates and the city’s strong currency.
Hong Kong Stock Exchange Exploring Options For Start-ups and Technology Companies — The Hong Kong bourse recently approved a plan that would allow companies with dual-class shares to raise funds. An SCMP.com article points out that dual-class structure has been the subject of debate since 2014 when the bourse missed out on the US$25 billion IPO by the Alibaba Group.
Hong Kong’s July Prices For New Homes Rise As Buyers Pile Back Into Market — SCMP.com reports that the Rating and Valuation Department’s monthly price index was 281.4 in July, an increase of 1.9 percent. The same article indicated that prices have potential to drop due to a bleak economic outlook and potential interest rate rise.
Nomura Securities Confident In Sun Hung Kai, Kerry Despite Hong Kong’s Tough Property Market — Barrons.com reports that although Nomura Securities doesn’t have an optimistic view on Hong Kong’s property market, the firm is confident in property developers Sung Hung Kai Properties, who has a proven record of selling properties and Kerry Group, a deep value play, trading at 7.3 times forward earnings and yielding 4% on the current dividend.