5 d. ago Rebound in Hong Kong’s home prices unlikely to come this year: analysts

The improving sentiment in Hong Kong’s property market has spurred hope for a sustainable recovery in home prices, but analysts suggest the rebound is unlikely to come this year due to an uptrend in mortgage rates and a nagging supply glut. As of Friday, about 9,150 first-hand transactions had been recorded so far this year, a 3.9 per cent increase from a year earlier and a six-year high since 11,580 transactions were recorded in the first half of 2019, according to agents. Growth for lived-in...

Politics

9 d. ago Hong Kong home prices post tiny gain in April, raising hope of slump’s end

Hong Kong’s lived-in home prices posted a small gain for the second straight month in May, according to official data, fortifying hopes of a sustained recovery in the city’s property market. An official index measuring secondary home prices inched up by 0.03 per cent in May from a month earlier, the Rating and Valuation Department said on Thursday. In April, the gauge rose 0.35 per cent from March. In the first five months of the year, second-hand home prices declined by 0.9 per cent. They are...

Economics

9 d. ago Hong Kong home prices post tiny gain in May, raising hope of slump’s end

Hong Kong’s lived-in home prices posted a small gain for the second straight month in May, according to official data, fortifying hopes of a sustained recovery in the city’s property market. An official index measuring secondary home prices inched up by 0.03 per cent in May from a month earlier, the Rating and Valuation Department said on Thursday. In April, the gauge rose 0.35 per cent from March. In the first five months of the year, second-hand home prices declined by 0.9 per cent. They are...

Economics

2 w. ago Group tour prices from Hong Kong drop 10% as tourists opt for alternatives to Japan

Hong Kong travel agencies have launched cheaper outbound group tours this summer, driven by increased flight capacity amid a shift in tourists’ preference away from Japan due to increased earthquake concerns. Several tour operators have reported that prices for their summer group tours are either lower or have remained stable, adding that popular destinations include South Korea, Vietnam and cities in western mainland China. “Compared to last year, we see more than a 10 per cent drop in prices...

Politics

3 w. ago How US$11 can get you a day trip for 2 plus lunch in pricey Hong Kong

In Hong Kong, one of the world’s most expensive cities, 79 yuan (US$11) will get you a set lunch for one. But, to the surprise of many, it will buy a day tour for two people, with lunch and a visit to several attractions thrown in. With such budget tours becoming increasingly popular among mainland Chinese visitors, especially those from the nearby cities of Shenzhen, Zhuhai and Guangzhou, the Post joined one on a weekday to see how they operated. At 8.30am, a coach packed with about 60...

Economics

3 w. ago Debt crunch at NWD stokes downside risk in Hong Kong home prices, S&P says

The liquidity crunch at New World Development (NWD), one of Hong Kong’s biggest developers, is a blemish on the resurgent housing market, threatening to shake confidence among homebuyers and trigger a “downside scenario” in home prices, according to S&P Global Ratings. The developer deferred coupon payments on four series of perpetual bonds after months of speculation about its finances, sending a poor signal to creditors about its default risk. It surprised investors last month by not redeeming...

Economics