Stock market volatility and the interest rate rise in the United States has dampened investment sentiment in the property markets in Hong Kong, according to a new report.
Overall the luxury sector prices remained broadly steady, with apartment prices on Hong Kong Island and Kowloon recording some mild declines, says the latest briefing report from Savills World Research.
In the fourth quarter of 2015 primary sales rebounded after the quiet summer months but secondary sales declined further, and total transaction volumes of 10,000 were the lowest since 2002.
Mainland Chinese financial institutions have expanded their physical footprint in Hong Kong's prime business district at their fastest pace in five years, driving up rents and underscoring how Beijing's policies are reshaping the city.
While international firms are consolidating and re-locating offices to save money, Beijing is pushing on with plans to draw the former British colony into a Pearl River Delta mega-economy - and China's financial institutions are leading the way.
Asian cities command half of the world's top ten most expensive office space, according to a new survey by property firm JLL.
Hong Kong topped the rankings followed by London and Beijing.
JLL said it costs $262 per square foot per year for top-quality office space in the Chinese territory because of strong tenant demand and short supply.
Shanghai, Tokyo and Delhi also made the list, with the city state of Singapore missing the top ten by just one spot.
"A large part of the global growth is now driven out of Asia and international businesses will continue to be keen to set up their presence in the region," Chris Archibold, head of markets at JLL Singapore said.
Hong Kong has the least affordable housing of 87 major global cities, with prices a record 19 times average pre-tax household income, a new survey said.
Housing in the southern Chinese city is classified as "severely unaffordable" by the report from think tank Demographia.
Residential property sales in Hong Kong rebounded in December, up 43.1% from the previous month, according to data from the land registry.
A total of 2,153 primary residential sales transactions were recorded, more than doubling those in November, while secondary home sales increased 6.4%.
Leung Chun-ying, in his annual policy address, said the lack of affordable housing was "distorting the values of young people" and that the government would play an active role to boost China's "One Belt, One Road" initiative
As the rate of price growth slows in many global city markets, transaction costs and taxation are becoming increasingly important considerations for investors, a new analysis suggests.
With slower price growth forecast in a number of prime city markets, investors are looking more closely at the cost side of the investment equation, according to the report from international real estate firm Knight Frank.
New York and Boston were considered fair-valued, leaving 12 of the 15 cities surveyed overvalued
An official index of overall private home prices for September edged up 0.7 percentage points month-on-month to 305.9 points. That's 14.9 percent higher than the year before
Residential property sales in Hong Kong have increased, up 9.4% from August to September but officials are keeping tax policies in place to try to keep price growth under control.
First hand transactions jumped 110%, while secondary sales declined 15%, month on month, according to the latest data from the Land Registry.
Both demand and supply remained robust in the primary market, with around 360 units launched during the mid-autumn festival holiday, says the latest monthly Hong Kong property market report from international real estate firm Knight Frank.
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