Re-Sale | Investment Market #ConventionPlaza
When this transaction closes, a record will have been set for Hong Kong property market for single floor purchase.
Hong Kong Is A City for Mainlanders to Showcase Their Wealth #Office
Developers On Course
- Irene Lee, Chair of Hysan Group - Causeway Bay's largest landlord - an 'Establishment' family
- Lincoln Leong - helm of MTRC - an 'Establishment' family
- Top 15 families own 84% of the assets - The Economist
- Hong Kong Retail Sales Plunge Most in 17 years
Residential Market Sales in Hong Kong
- Double Click this Link to View
- $ 79,000+ psf for Gehry-designed Opus - shell only
- Developers offer high financing to clear inventory
- Uncertainty in the short term in the Hong Kong market
- Office market strong
- Significant slowdown by PRC money - due to anti-corruption movement.
- The recent Occupy movement is a problem.
- Causeway Bay landlords now willing to negotiate
- Richmont hit by slow sales in Macau & HK, more than half of Macau's VIP's were government officials
With summer upon us now, it would make sense that people are travelling to the recreation home.
The Hong Kong Advantage
Photo by Nick Gaw
- Global property hotspot - BBC
- Barker Road - $17,000 USD per sq ft
- Vertical Hong Kong - wow photos
- Subway system - most efficient!
- Third fastest growing property market in the World
- $2.5 mln per month rent in Tsimshatsui
Retail Rents in Hong Kong
"HK$11 million per month, or HK$220 psf, for its flagship shop at Lane Crawford House on 70 Queen's Road Central. Burberry splashed out HK$1,540 psf for a 5,000-sq-ft shop at 38 Russell Street in Causeway Bay. And in September, a 36,342-sq-ft shop in Star House on Salisbury Road, Tsim Sha Tsui, was leased out to three high-end retailers for a total of HK$15 million per month". -- The Standard
What makes Hong Kong especially attractive for the Mainland clientele is : So much choice in luxury goods + NO LUXURY TAX ! Home ownership is easy peasy + high rents because such a large expatriate community. There are > 90 investment banks in the city. Hong Kong is IPO Central.
HONG KONG AS A CONDUIT FOR OVERSEAS PROPERTY FOR PRC PURCHASERS
A salesman shows off a luxury development in London to potential buyers in Hong Kong. Photo: Reuters
Opus, the new 12 storey Swire properties development on Stubbs road in the Mid-Levels achieved an unusually high monthly rental of HK $724,000 - rented to the British Cousul General -- 2013 July 3 SOUTH CHINA MORNING POST
RETAIL IN HONG KONG
McDonald's in Russell Street in Causeway Bay is cashing in its chips after another retailer agreed to pay triple the rent. Photo: May Tse
2013 ASIA FINANCE:
Cheung Kong Centre
Cheung Kong Centre owned by Hutchison Whampoa.
The Li Ka-shing Unity Trust owns 39.43 per cent of Cheung Kong, which in turn owns 52.45 per cent of Hutchison according to Bloomberg. So the trust has an indirect 20 per cent in this building
MANULIFE ACQUIRES AN OFFICE BUILDING IN HONG KONG
Socialite sells her haunted house after slashing price
The haunted home at Broadview Villa in Happy Valley owned by the Queen of Timepieces Christie Wo Man-shan has been sold after the price was cut.
Socialite Wo, founder of the watchseller Charmonde Luxury, managed to offload her 2,853-square-foot unit on Broadview Road only after cutting the price by about HK$5 million to HK$60 million.
That is 40percent lower than similar- sized units at the development.
The transaction will provide cash for Wo, who has failed to pay nine months' rent for a shop at No9 On Lan Street in Causeway Bay. The owner of the shop has filed a lawsuit.
Wo earlier raised the asking price for the flat to HK$65 million from HK$58 million last November after a buyer forfeited a deposit.
The apartment became a haunted home seven years back when Wo's mum jumped from the building at No20 Broadwood Road.
Meanwhile, another haunted home at the Caribbean Coast in Tung Chung was sold for HK$5.87 million yesterday - 25percent below the market price. - 2013 July 22, 2013
太太 Bamboo Network | HelloTaiTai.com