Real Estate

Hong Kong Builders Cut Prices to Boost Sales, Morning Post Says

Hong Kong property developers are cutting prices to boost sales of unsold apartments, the South China Morning reported today.

Mega projects could hurt coffers, claims lawmaker

Beatrice Siu and Timothy Chui The Standard 06.02.2009
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The government has been warned that its decision to go ahead with a mechanism allowing contract price adjustment during the economic downturn may prove costly, with 10 major infrastructure projects in the pipeline.


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The Housing Authority has become the latest victim of the financial crisis by recording an estimated investment loss of $3.6 billion in the current financial year.

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About 20 construction workers have staged a protest in Central, demanding that the government do more to provide jobs.


Leisure liftoff sought for Kai Tak site

Bonnie Chen The Standard 08.12.2008
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The government has been urged to open parts of the former Kai Tak airfield for recreation.

Olympics slows housing deals

MandyLo The Standard 31.07.2008
Olympics slows housing deals

Analysts expect July housing transactions to drop 15-30 percent from about 7,000 deals last month and predict a subdued market for the rest of the year.


Centaline staff face ax as market slumps

Stephanie Tong and Alfred Liu The Standard 24.07.2008
Centaline staff face ax as market slumps

Falling residential transaction volume has led to impending large-scale staff cuts in the city's leading real estate agency.

Property buyers and sellers face legal `booby trap'

A mechanism designed to simplify the registration of property could instead give rise to an avalanche of litigation between buyers and sellers on the validity of property transactions, the Law Society has warned.


(Photo: Courtesy of Sun Hung Kai Properties)

HONG KONG- Sun Hung Kai Properties (SHKP) announced the good news of becoming a winner in the latest Yahoo! Emotive Brand Awards as it continues provide premium-quality service since 1972.

MTRC escapes need for wall-effect study

Nishika Patel The Standard 26.06.2008
MTRC escapes need for wall-effect study

The government yesterday stonewalled lawmakers calling for height restrictions on two high-rise hotel blocks and 20 residential towers along the Tsuen Wan waterfront.


Countrywide Sued by California, Illinois, Over Loans

Karen Gullo and Andrew Harris Bloomberg 26.06.2008
Countrywide Sued by California, Illinois, Over Loans

Countrywide Financial Corp., the mortgage lender that lost $2.5 billion amid rising defaults and foreclosures, was sued by California and Illinois for allegedly luring borrowers into risky loans they couldn't afford.

Chinese money seeks US properties

China Daily 26.06.2008
Chinese money seeks US properties

Chinese interest in US commercial property is back, and this time Chinese investors may become significant players as the nation devises a vehicle to divert large amounts of funds for foreign investment, a Cushman & Wakefield executive has said.


Kwok breaks silence on SHKP family feud

Katherine Ng The Standard 25.06.2008
Kwok breaks silence on SHKP family feud

Walter Kwok Ping-sheung, the eldest brother at the heart of controversy surrounding property giant Sun Hung Kai Properties (0016), has finally broken his silence over the issues dogging the company.

US house prices continue to fall

Kathryn Hopkins The Guardian 25.06.2008
US house prices continue to fall

US house prices fell further in April, with every top city showing annual losses, many with double-digit declines, new figures showed yesterday.


A foreclosed home in Chicago is seen in this January 28, 2008 file photo.   REUTERS/John Gress/Files

NEW YORK (Reuters) - Record foreclosures and limited access to credit will make it harder than usual to rebound from this U.S. housing market slump, the worst at least since World War Two, according to a Harvard University study on Monday.

Peace reigns at SHKP as Walter Kwok comes back

Katherine Ng The Standard 20.06.2008

Walter Kwok Ping-sheung, former chairman of Sun Hung Kai Properties (0016), had a harmonious meeting with board members yesterday - his first as a non-executive director, according to sources.


Mega-mansions are L.A.'s really big show

Jessica Garrison Los Angeles Times 12.06.2008
The Holmby Hills mansion, which is on a six-acre lot and has 45 rooms, features a screening room and a bowling alley.  (Mark Terrill / Associated Press)

Unaffected by the economic woes besetting the masses, the super-rich are going on creating palace-like complexes. One builder says he knows of 20 houses of at least 20,000 square feet in the works.

Traders predict house prices will fall by 50% in four years

The slide in house prices will continue for at least three years and crush the value of a home by almost 50% in real terms, according to a key index of property price futures. Indications from futures trading on long term property prices shows tha...


About 1 in 11 Mortgageholders Face Loan Problems

Vikas Bajaj and Michael M. Grynbaum New York Times 06.06.2008
A home in Stockton, Calif., is one of the many in foreclosure in that state.  Justin Sullivan/Getty Images

About 1 in 11 American mortgages were past due or in foreclosure at the end of March, according to a report released on Thursday, a figure that is rising fast as home prices fall and the job market weakens.

2 consents for 673 units issued

news.gov.hk 05.06.2008
2 consents for 673 units issued

The Lands Department issued two consents for residential units in May, involving 673 uncompleted units in Sham Shui Po and Ho Man Tin, due for completion in February and July 2009.



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