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While months of Hong Kong protests have scared away tourists, sent jitters across the financial centre and cast a dark cloud over the local economy, there's one thing residents of the city are ...
Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory's woes. Finance minister Paul Chan announced the move in a ...
Below are the top 10 most expensive houses in Hong Kong. Prices (valuation) are based on best estimates in 2023. Factors determining prices include location, view, built quality, past transactions, media reports and annual figures published by Rating and Valuation Department of the Government. Rankings are based on per square foot.
Housing is famously cramped in the Asian financial hub of Hong Kong, thanks to sky-high property prices, but a single toilet and kitchen shared by four families would make for a challenging home ...
Mortgage loans account for 25-30% of bank loans in Hong Kong. [1] Land ownership and land restrictions by the government risk inefficiencies with housing supply and demand. In 1998 there was a property price collapse; from 1997 to 2003 Hong Kong residential property prices fell by 61% [5] following the Asian economic crisis.
A CBRE report from 2019 lists Hong Kong as having the highest average property price in the world. [20] As of June 2021, an average 500 sqft apartment cost HK$9.44 million in Hong Kong Island, HK$8.32 million in Kowloon, and HK$7 million in New Territories; an average family would have to save for about 20.7 years to pay for such a unit. [21]
(Bloomberg Opinion) -- A deadly virus outbreak following months of anti-government protests might seem like a toxic cocktail for the world’s least affordable property market. Yet Hong Kong’s ...
The insufficient supply of housing in Hong Kong is one of the important forces leading to subdivided units. According to the Grassroots Housing Rental Price Research Report 2011, released by the Society for Communication Organisation, the Hong Kong government's failure to accurately forecast future housing demand is the leading cause of the shortage.