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"Hong Tower" 233 Tai Wo Street West, Ho Man Tin, recorded contract for about a hundred groups of guests to make reservations for visits, aiming to launch 8 units for bidding within the week.
New World Development (00016.HK) and Wealthy Tien Construction collaborate to develop at 233 Prince Edward Road West in Ho Man Tin. It is expected to announce the sales arrangement for Unit 1 within this week. Tang King Keung, Deputy General Manager of New World Estate Agency, stated that 4 special units will be sold through tender, including units A and B on the 18th floor, units A and B on the 19th floor, as well as four-bedroom units with different orientations. The project price will reference New World's residential project 'Tin Residence - Sky,' with management fees around HKD 6.6 to 6.7 per square foot. Tang King Keung mentioned that '233 Prince Edward Road West' will open the show flat for registered buyers to visit this Thursday, with approximately 1 already recorded.
HSBC Research on "Dah Sing": Potential storage cost turning positive may help stabilize the property market, expecting a fifty percent increase in property prices next year.
HSBC Research's research report indicates that investors should focus on companies with profit recovery potential and those that may shift business strategies. With the increase in residential rents, the potential recovery of holding costs will benefit the demand for property ownership, and may also help stabilize the property market in unfavorable economic conditions. The bank predicts that property prices will stabilize in the second half of the year, rise by 5% next year, noting that prices have fallen by 6% from the beginning of the year and have seen moderate increases for five consecutive weeks. The bank is bullish on Sun Hung Kai Properties (00016.HK) and Kerry Properties (00683.HK) among many developers, with target prices of HK$116 and HK$19.6 respectively, both rated as 'buy'.
Standard & Poor's expects that Hong Kong property prices will stabilize next year, raising the sales volume forecast for new projects to 0.02 million units.
Rating agency Standard & Poor's released a report stating that after a nearly 30% decline in high Hong Kong property prices in 2021, they are expected to stabilize next year. However, local developers are still struggling, mainly due to high inventory, and the recognition of residential projects purchased during the period of high land prices will further pressure profit margins. Nevertheless, Standard & Poor's believes that with the government relaxing housing market measures and interest rates trending downwards, they have revised their forecast for next year's new home sales volume to 0.02 million units. In addition, Standard & Poor's expects that the future three to four years' new supply may exceed 80% of the government's ten-year private residential supply target.
Express News | UBS Group: The larger-than-expected reduction in the most favorable interest rates of Hong Kong banks should support recent real estate transactions.
Hong Kong property stocks generally fell, SHK PPT (00016) fell by 2.8%. Morgan Stanley points out that second-hand property prices will still be under pressure in the next six months.
Golden Finance News | Hong Kong property stocks fell across the board, with SHK PPT (00016) down 2.8%, Wharf REIC (01997) down 2.65%, New World Dev (00017) down 2.26%, Hang Lung PPT (00101) down 2.21%, CK Asset (01113) down 1.51%, Henderson Land (00012) down 0.96%. On the news front, JPMorgan released a report stating that following the interest rate cut in the USA, Hong Kong banks once again lowered the Hong Kong dollar prime rate by 25 basis points on November 8th (last Friday). This rate cut earlier than market expectations, but not entirely unexpected.
Express News | Standard & Poor's has raised its forecast for the residential sales volume in Hong Kong in 2025, expecting housing prices to stabilize.
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