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The Hong Kong Monetary Authority, the city’s central bank, last month imposed tighter mortgage restrictions, which Hong Kong Chief Executive Donald Tsang said were to stave off a big property bubble following soaring prices this last year. He told attendees at a business lunch: “We do not want to see a huge property bubble developing in Hong Kong,” having earlier said that he wasn’t sure whether a bubble was forming or not.
When I was a kid, if you saw “Made in Hong Kong” stamped on the underside of anything, that pretty much assured it was cheap and badly made. You certainly could not apply that to the Conduit Road 39 building in Hong Kong, where a 6,158 square foot duplex apartment has just sold for US$56.5 million. That’s a lot of square feet, but that’s also a lot of money – and the developer Henderson Land thinks it’s a record not just for the city but for anywhere in the world.
The apartment was bought by a company whose money comes from mainland China, according to the developer, but more than that they either don’t know or won’t say.
Thursday, June 4th, 2009 
Posted by OP-Mall in China Property, Hong Kong Property, Overseas Property Trends
Centaline Property Agency Ltd. in Hong Kong reported about a possibility of a home prices rebound as early as this year. According to the agency’s research there has already been an increase in pricing in four of Hong Kong’s biggest mass housing estates where prices for property are below 1.3 million. Right now the prices in these estates are above the levels we saw last year in September which is a healthy sign for a possible market rebound.
Thursday, May 28th, 2009 Posted by OP-Mall in Cambodia Property, China Property, Holiday Property, Hong Kong Property, Japan Property, Shanghai Property, South-East-Asia Property, Thailand Property, Tokyo Property, Travel, Vietnam Property
Randy Lynch, founder and seasoned traveller of U.S. based luxury travel firm Kipling & Clark has compiled a list of his favourite hotels in the Asian region which has now been released by the guide.
The list features the top ten luxury hotels in all of Asia where wary travellers can rest their bodies after a hard day of sightseeing or shopping. We have listed them in order of rank below:
Read the rest of this entry »
Sunday, March 8th, 2009 Posted by Overseas Property Mall in Hong Kong Property, Indonesian Property, Kuala Lumpur Property, Malaysian Property, Predictions, Singapore Property
Property prices in Hong Kong and Singapore are suffering the most as the ripples from the global financial crisis spread to the Far East.
Following on the heels of the US, UK and Europe, banks have shut off lending as governments strive to tackle falling output and rising unemployment.
Predictions are that the HK and Singapore property markets won’t show any signs of revival for at least a year or even longer.
Hong Kong, once known as a city only affordable to those with plenty of cash flow is now fast becoming a paradise for rental bargains. The first signs of falling rents were seen back in August last year just before the collapse of Lehman Brothers Holdings Inc which sparked a global banking crisis.
Hong Kong, a city of apartments
The global financial crisis is rapidly expanding into Hong Kong now. Window displays at some real estate agencies in the city advertise heavily reduced properties, last minute reductions and even cash incentives to prospective buyers.
Poon, a property agent for Midland Realty in Hong Kong said “Before September our branch was making two to three million Hong Kong dollars (256,000 to 385,000 US dollars) every month, but now it’s only around 50,000, a 98 percent drop in revenue”.
Saturday, April 12th, 2008 Posted by OP-Mall in Beijing Property, China Property, Hong Kong Property
The once richest lady in China’s “Babylon” has lost half of her fortune due to recent cracks in the Chinese property market. The 27 year old, once worth an estimated $17.5 billion has lost around half of her worth since taking her company public about one year ago.
Yang Huiyan is one out of 80% of people in China who top the richest people list, having managed to acquire a fortune with real estate investments. She is the major shareholder of Country Garden, a high end residential developer. The worst affected listings are those in the big cities of southern China, namely Shenzhen. Once a hot property market, the price of flats have fallen by 28% since October 2007.
Beijing on the other hand shows a somewhat level playing field with leveled prices but a lower rate of appreciation altogether.
Wednesday, February 27th, 2008 Posted by Overseas Property Mall in Dubai Property, French Property, Hong Kong Property, London Property, New York Property, TrendsWith all the doom and gloom surrounding the property markets, we felt it was about time to take a look at those markets that have remained robust and healthy throughout the current credit crunch. So here are five markets that have consistently performed well, regardless of the ups and downs seen recently.
If mortgage approvals are any bench mark, Hong Kong’s already fast paced economy is about to get another shot in the arm. Approvals last month reached their highest level in ten years. This November, saw a rise of 76% over last year’s new mortgages, lending over $3 billion US.
