2023:
City of Vancouver has the steepest fees for development in Canada
https://dailyhive.com/vancouver/city-of-vancouver-high-rise-residential-buil ding-costs
Coal Harbour East
2023 JLL Real Estate Outlook
Tuesday, January 17, 2023
Sunday, February 27, 2022
UK
Vacating Canary Wharf
Mount St Rebound
UK Property Register
Distribution Centres Demand
10% to Chinese - as launchpad to Europe
'about a fifth of its lettings in the UK last year and 10% in Europe were to Chinese firms. The companies that took space at its schemes ranged from giant names like JD.com to the less well known, like AOSOM, Aukeys or Zongteng Group. The link is that they are mostly e-commerce brands or logistics providers to such companies.
“They want to grow in the UK and use it as a springboard into Europe,”
Wednesday, December 15, 2021
Wednesday, June 10, 2020
Saturday, April 25, 2020
CANADA
Population:
2023 Ownership:
 |
US vs Canada : Construction Cost outlook by JLL
Majority of condo investors in Toronto and Vancouver - from 8 yrs ago - are long term investors [i.e. >5 yrs]
🖥: CMHC
https://eppdscrmssa01.blob.core.windows.net/cmhcprodcontainer/sf/project/archive/housing_markets/condominiumownersreporttorontoandvancouver/68161_2014_a01.pdf
🖥: CMHC
https://eppdscrmssa01.blob.core.windows.net/cmhcprodcontainer/sf/project/archive/housing_markets/condominiumownersreporttorontoandvancouver/68161_2014_a01.pdf
Foreign Buyer Ban
Unintended Consequences?
“It’s irrelevant who builds it — the issue is we want homes for Canadians,” he said. “So if we limit capital and we build less there’s less homes for Canadians.”
Federal Government Proposes
Foreign Owner Tax
https://www.bloomberg.com/news/articles/2021-04-19/soaring-canadian-housing-costs-targeted-with-foreign-owners-tax
Overview
This excerpt from Ben Meyers 2020 April 27
Municipal Taxes highest in Montreal, Halifax and St. Johns
-- C.D. Howe Institute
Hong Kongers in Canada
Wednesday, January 16, 2019
PRIVATE EQUITY
TRENDS
Asian Tycoons
Many offspring are bringing these skills back to the family and can operate without the constraints of institutional private capital.
Institutional private equity’s slow progress in Asia is due to the dominance of families as the fundamental investors in corporate activity. Asian tycoons lack trust in private equity funds and question why they should let these firms invest in their businesses. They also increasingly believe that when it comes to investing they can look after themselves.
FINANCIAL TIMES ARTICLE
by Paul J. Davies in Hong Kong
For instance, his most recent investment is a $3m punt on Bitstrips, a company that simply allows you to create a cartoon character of yourself. He also put a similar amount into Affectiva, one of whose products allows a computer to measure your emotional reaction to advertising.
Someone worth $31bn can afford to make a few wilder bets, but the really interesting thing is that Mr Li, like many other Asian tycoons and entrepreneurs, chooses to make so many such investments directly rather than through a specialist fund run by someone else.
This happens not just in highly speculative new technology, but also in other kinds of private equity investing too. Cheng Yu Tung, Asia’s fourth-richest man and the patriarch of the Chow Tai Fook and New World empire, last year turned a US dollar profit in nine figures from a private equity investment in Huishan Dairy, a Chinese milk producer, which listed in Hong Kong.
Region’s richest families are making their own deals
What do Facebook, Spotify, BitPay, Summly and Siri have in common? They all got early stage private-equity backing from Asia’s richest man, Hong Kong’s Li Ka-shing.
The octogenarian multi-billionaire made his money from some of the oldest and simplest businesses going: property and ports – where people live, work and trade, the basics of any economy. But Mr Li’s Horizons Ventures has since 2006 made tens of millions of dollars of investments into some of the most uncertain and novel ideas for businesses around, ranging from the trivial to the frightening.
For instance, his most recent investment is a $3m punt on Bitstrips, a company that simply allows you to create a cartoon character of yourself. He also put a similar amount into Affectiva, one of whose products allows a computer to measure your emotional reaction to advertising.
Someone worth $31bn can afford to make a few wilder bets, but the really interesting thing is that Mr Li, like many other Asian tycoons and entrepreneurs, chooses to make so many such investments directly rather than through a specialist fund run by someone else.
This happens not just in highly speculative new technology, but also in other kinds of private equity investing too. Cheng Yu Tung, Asia’s fourth-richest man and the patriarch of the Chow Tai Fook and New World empire, last year turned a US dollar profit in nine figures from a private equity investment in Huishan Dairy, a Chinese milk producer, which listed in Hong Kong.
Many of these Asian families have highly educated and bright children who have spent time learning finance in investment banks and private equity firms. Sonia Cheng, for example, the granddaughter of Cheng Yu Tung who now runs the family’s hotel business, spent time in investment banking and at Warburg Pincus, the private equity firm.
Many offspring are bringing these skills back to the family and can operate without the constraints of institutional private capital.
Institutional private equity’s slow progress in Asia is due to the dominance of families as the fundamental investors in corporate activity. Asian tycoons lack trust in private equity funds and question why they should let these firms invest in their businesses. They also increasingly believe that when it comes to investing they can look after themselves.
“Far more active than private equity as a whole or corporates as a whole are the Asian families,” Mr Solberg says. “It is very hard to track what they are doing in real time, but you should not forget that they are the ones really driving the [private investment] market here.”
It is true that private equity firms have struggled to deploy money in Asia. Buyouts that give funds control of a business are extremely rare, while deals for minority stakes have also been getting harder on an industry-wide basis, if not for some of the better connected individual funds.
Total private equity deal volumes in Asia last year were just $29.1bn, according to a report last week from EY, the consultants, and Mergermarket, the data provider. This is down from $33.1bn worth of deals seen in 2012 and by way of comparison is less than half the volume of deals seen in the first quarter of 2013 alone in the US.
So what are the issues? Fees are an important consideration, according to Brian Crawford, who is head of the institutional solutions group at UBS’s Asian private bank and who helps the region’s wealthy find investments. Also, many tycoons and their families do not like the perceived illiquidity of having money tied up in long-term commitments to a fund manager.
Most important, however, says Mr Crawford, is the lack of transparency the region’s wealthy families believe they get from private equity managers, and the lack of personal involvement they like to have in underlying investments.
“Making direct investments is one way in which family members can be properly involved in managing the family’s wealth,” Mr Crawford says. “But usually they are looking to get into something where they have a differentiated ability to understand a business and the risks involved.”
Their investments, therefore, are often similar to the family’s existing business, and can result in a lack of diversification. Mr Crawford says the need for diversification means many families still put some of their money to work in institutional private equity as well.
Many of these Asian families have highly educated and bright children who have spent time learning finance in investment banks and private equity firms. Sonia Cheng, for example, the granddaughter of Cheng Yu Tung who now runs the family’s hotel business, spent time in investment banking and at Warburg Pincus, the private equity firm.
Many offspring are bringing these skills back to the family and can operate without the constraints of institutional private capital.
Institutional private equity’s slow progress in Asia is due to the dominance of families as the fundamental investors in corporate activity. Asian tycoons lack trust in private equity funds and question why they should let these firms invest in their businesses. They also increasingly believe that when it comes to investing they can look after themselves.
We have been representing Tycoon's private investments for over three decades
Monday, October 8, 2018
Hong Kong
Retail
Rents are down by 41%
Who were the buyers of Hong Kong’s 5 priciest homes in 2021?
 |
📸: May Tse |
Hong Kong saw the record for per square foot prices of luxury homes being set a couple of times in 2021.
Most of these transactions were concentrated in two areas: Mount Nicholson on The Peak and 21 Borrett Road in Mid-Levels
Nan Fung Development and The Wharf (Holdings) paid HK$10.4 billion (S$1.8 billion) for the Mount Nicholson site in an auction in July 2010. At HK$32,014 per sq ft, it was the third-highest land price in the city’s history at the time
Analysts had expected it to sell for between HK$8.7 billion and HK$11.4 billion. The 2.33-hectare site was the location of government staff quarters that had sat empty for years.
The site at 21 Borrett Road was sold to the then Cheung Kong (Holdings) in June 2011 for HK$11.65 billion in an auction. Analysts had expected the site to fetch between HK$12 billion and HK$15 billion.
The price paid was the second highest at that time, just behind the HK$11.82 billion paid in 1997 for the Island Resort site in Siu Sai Wan. At HK$26,763 per sq ft, it was also the third-highest at that time.
“New Hongkongers”, or those who have recently acquired permanent residency in the city and do not have to pay the extra 30 per cent stamp duty levied on non-permanent residents for property purchases, comprised 60 per cent of the owners at these two developments, according to land title searches conducted by the South China Morning Post in June.
Who bought the most expensive homes per sq ft in Hong Kong this year?
| Buyer | Property | Price (US$ per sq ft) | Total amount (US$) |
| Lau Chauin, daughter of Heungkong Group chairman Lau Chi-keung | Two flats with parking spaces, Mount Nicholson, The Peak | 17,223 (S$23,232) 18,097 | 72 million (S$97 million) 82.2 million |
| Yin Xi | Flat on 23rd floor, 21 Borrett Road, Mid-Levels | 16,979 | 59 million |
| Qiu Mingjing, sixth largest shareholder of Shanghai-listed Beijing Wantai | Flat on 23rd floor, 21 Borrett Road | 16195 | 48.55 million |
| Investor surnamed Shan | Flat on 23rd floor, 21 Borrett Road | 16,915 | 44.23 million |
| Ni He Tong | Flat in Mount Nicholson | 14,769 | 62.98 million |
Such buyers preferred the large flats of these two projects to houses as they tended to divide time between Hong Kong and mainland China, and these flats required less maintenance, said Raymond Li, principal sales director at Centaline Property Agency. Many bought two neighbouring flats for larger spaces as well.
📸: Martin ChanMore record-breaking deals are expected in 2022, as developers tend to sell new luxury homes slowly to generate the highest price possible, Li said. Moreover, with the border with mainland China expected to open in the new year, mainland buyers are expected to return to the Hong Kong housing market and drive up sales.
Here are this year’s top five buyers of the most expensive new flats in Hong Kong on a per sq ft basis.
Lau Chauin
Lau, the daughter of Lau Chi-keung, the chairman of Heungkong Group, which has interests ranging from logistics and finance to health care and property development on the mainland, bought flats 16C and 16D in phase three of Mount Nicholson for a combined HK$1.2 billion last month.
The 4,544 sq ft Flat 16D, which comes with three parking spaces, sold for HK$639.8 million, or HK$140,800 per sq ft, making it Asia’s most expensive flat on a per sq ft basis.
It broke the record held by a flat in CK Asset Holding’s 21 Borrett Road project. That flat, which also comes with three parking spaces, sold for HK$459.4 million, or HK$136,000 per sq ft, in February.
The 4,186 sq ft Flat 16C sold for HK$560.92 million, or HK$134,000 per sq ft.
Yin Xi
Yin, about whom little is known and whose name is identical to the director of five closely held companies, according to the Companies Registry, bought Flat 1 on the 23rd floor of 21 Borrett Road in February, according to Land Registry documents.
The five-bedroom flat in the project’s phase one sold for HK$459.4 million through tender and held the record before Lau’s purchase of flats 16C and 16D in Mount Nicholson.
The 3,378 sq ft flat in Hong Kong’s Mid-Levels , at HK$136,000 per sq ft, broke a record held by flats 12C and 12D at Mount Nicholson. These flats sold for HK$1.17 billion, or about HK$132,100 per sq ft, in November 2017.
The buyer is a Hong Kong permanent resident, as documents showed that they only paid a basic stamp duty of 4.25 per cent for the Borrett Road property, or about HK$19.52 million.
Yan Hongyan
Yan reportedly bought Flat 6 on the 23rd floor of 21 Borrett Road for HK$377.37 million in March, and then transferred the title to Qiu Mingjing in June. At 2,995 sq ft, the flat’s price translates to HK$126,000 per sq ft.
Qiu is a big investor in Hong Kong property. She was the sixth-largest shareholder of Shanghai-listed Beijing Wantai with 4.8 million shares, or a 1.1 per cent stake, according to the firm’s 2020 annual report
Shan
An investor with the surname Shan, whose first name is not known, reportedly bought Flat 3 on the 23rd floor of 21 Borrett Road for HK$344.1 million in April. At 2,731 sq ft, the price translates to HK$126,000 per sq ft.
Shan is said to have paid an extra 15 per cent in stamp duty, or HK$51.6 million, as it was not their first property.
Ni He Tong
Ni bought flat 8C in phase three of Mount Nicholson for HK$490 million in January, according to media reports citing Land Registry records.
At 4,266 sq ft, the price translates to HK$114,906 per sq ft. Ni was said to be a first-time buyer, having paid only 4.25 per cent in stamp duty, or HK$20.83 million.
This article was first published in South China Morning Post.
Kadoorie Hill
Estates at The Peak Where The Seriously Rich Live |
| Estates At The Peak in Hong Kong |
📸: Andrea Eng 2021:
"About 50% of Hong Kong's ultra-luxury homes [in the past two years] have been sold to wealthy mainland Chinese or so called new Hongkongers," said Martin Wong, director and head of research and consultancy for Greater China at Knight Frank. "Buyers from the mainland are willing to pay big bucks for homes on The Peak as spectacular views like those of Victoria Harbour are rare in China."
JLL Yearend
https://www.jll.com.hk/content/dam/jll-com/documents/pdf/research/apac/hong-kong/jll-en-hong-kong-residential-sales-market-monitor-december-2021.pdf
HISTORICAL
Prices at the Peak — http://www.jll.com.hk/hong-kong/en-gb/Research/Residential%20Market-2018-09.pdf
Low turnover - just 13 transactions per annum http://www.thestandard.com.hk/breaking-news.php?id=114674&sid=2
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