“We hope these measures will bring some relief to those who are under stress from the economic fallout of Covid-19, allowing them to focus on getting through these critical days without having to worry about their finances,” said Diana Cesar, HSBC’s Hong Kong chief executive. New residential mortgage loans approved rose strongly by 22.8% to 7,986 in November 2020, from 6,505 in the same period last year, according to according to Hong Kong Monetary Authority (HKMA). Surprisingly, larger-sized apartments are more resilient, registering strong price increases during 2020, as compared to smaller-sized apartments which saw falling prices. Statistical data on prices, rents, market yields, number of transactions, completions, stock, vacancy and take-up of various types of properties. Friday's filing to the Hong Kong stock exchange did not give a reason for the trading suspension. Found inside â Page 311Hong Kong's economy is closely tied with the property sector . Over 40 per cent of the bank loans in Hong Kong are propertyrelated ( Table 1 ) . Such a big plunge in the property market has hurt many Table 1. Quarterly Analysis of ... Another feature of the property market in Hong Kong is the Government's dual role. “In Hong Kong, even those who earn twice the city’s average income would struggle to afford an apartment [measuring 60 square meter],” said the UBS. Recently, Financial Secretary Paul Chan indicated that the government has no plan of easing market-cooling measures in the residential sector, following Chief Executive Carrie Lam Cheng Yuet-ngor’s decision to scrap the double stamp duty for commercial properties in November 2020. m.) fell by 51.3% to 499 units, following a 33.5% fall in 2019. The results show that local homebuyers’ purchasing appetite has rebounded to 2018 H2 levels during the COVID-19 pandemic, yet their budget for intended property purchase has slightly fallen. Also, the amount of loans allowed for residential property with value less than HK$10 million was reduced from 60% to 50% and those with value exceeding HK$10 million was also cut from 50% to 40%. Get the latest industry and sector insights across Asia Pacific and the globe, with JLL’s in-depth market research. Moreover, the Hong Kong Mortgage Corporation Limited (HKMC) has recently introduced a pilot scheme for fixed-rate mortgages for 10, 15 and 20 years, in an effort to reduce homebuyers’ risks from interest rate volatility, thereby improving the banking sector’s long-run stability. This book will be of value to students working in a wide range of subjects, including the building environment and economics, as well as property professionals and environmental planners. In the first eleven months of 2020, the number of property transactions in Hong Kong fell by 4.9% y-o-y to 53,813 units, while sales values dropped 5.4% to HK$489.49 billion (US$63.15 billion), according to the RVD. Demand more from your real estate. It had become the leading center of com This comes a week after other banks, including Bank of China (Hong Kong), Bank of East Asia, China Citic Bank International, Dah Sing Bank, Hang Seng Bank, ICBC Asia, and Standard Chartered Bank, and DBS, among others, rolled out their own relief measures. Apartments smaller than 40 sq. analysis is performed for turnover rates in the housing market. Over the past twelve years, Hong Kong’s residential property prices have skyrocketed by 262% (162% inflation-adjusted), including spectacular growth of 28.5% in 2009, 21% in 2010, 25.7% in 2012, 13.6% in 2014, and 14.7% in 2017. Unemployment is rising rapidly. Both the mortgage delinquency ratio (more than 6 months) and the rescheduled loan ratio were almost unchanged in November 2020, at 0.03% and 0% respectively. JLL research reveals more. The Hong Kong economy grew by an annual average of 3.8% from 2000 to 2018. Wong's research explores the Hong Kong housing market, which saw a "real increase" in prices of 50% from 1995 to 1997, followed by a "real decrease" of 57% from 1997 to 2002. m. and above) rental yields were 2%, down from 2.1% a year earlier. Hong Kong Luxury Properties Enjoy First Rent Increases in 2 Years. Get the latest in rents and capital values across asset classes for all key cities in Asia Pacific, Drive value through in-depth knowledge of real estate trends across the region, REIS is the market leading subscription-based real estate research service in Asia Pacific, Copyright 2021 Jones Lang LaSalle IP, Inc. | EAA Licence No. Re-entry strategies for office sector in Asia Pacific, Hong Kong Property Market Monitor – May 2020, Asia Pacific Property Digest Q1 2020: Markets pause on lockdown. Click to view JLL's October 2021 Residential Sales Market Monitor. Pent-up demand to support HK residential prices, Positive outlook for Hong Kong’s medical real estate, The evolving Asia Pacific office re-entry landscape, Premium rental for green buildings in Asia Pacific, A closer look into real estate sustainability in the Philippines, Investors make a strong push for alternative real estate, Malaysian Data Centres attract investor attention. Second part is the literature review that provides information on the definition, concept and theoretical framework of value-added services, services model, customer satisfaction and customer loyalty. Property Market Statistics Hong Kong Property Review Monthly Supplement (November 2021) (pdf) Entire Data Series. This dissertation, "An Analysis of the Hong Kong Residential Property Market With Reference to the Government's Housing Policy" by How-man, Helen, Ng, å³å·§æ, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is ... How are JLL Spark technologically leading the real estate industry? Are we overestimating the impact of COVID-19 on Asia Pacific real estate? Occupiers in Asia Pacific are willing to pay a premium rental for green-certified buildings. Hong Kong Data Center Market. Rents for 70-99.9 sq. In addition, Hong Kong’s exports fell by 1.5% y-o-y in 2020 while imports dropped 3.3%. Oct 2021. Get GPG fortnightly newsletters delivered to your inbox. To discourage developers from hoarding, in June 2018 Carrie Lam introduced a vacancy tax on unsold homes that are not leased, or have remained unoccupied six months after receiving an occupation permit. This includes 40 colocation facilities, 28 cloud nodes, 13 Internet exchanges (IX), and 9 disaster recovery and business continuity (DRBC) sites. Conduit Road, Western Mid-Levels, Hong Kong Island. Get the latest insights and outlook for major hospitality destinations of the Indian Ocean. Is there such a thing as a tenants’ market, and if so, is this what it looks like? As Hong Kong ranks the third most important leading international financial centre, after London and New York City, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency is Hong Kong dollar, and it is the . Class C completions (70 to 99.9 sq. Our Hotel Business Valuation Unit has over 20 years of experience performing hospitality industry asset valuation for clients, with offices in Hong Kong, Beijing, and Shanghai. Global transaction volumes show most traded asset, Double-digit growth in employment levels within the logistics and manufacturing sectors is leading to strong occupier activity in the Perth industrial market, Favourable market conditions and extensive opportunities in the Malaysian’s Data Centre sector have attracted hyperscalers and investors to deploy capital in the country.
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