Luxury Real Estate Blog and News
Amid market uncertainty and sliding property values, Hong Kong is putting up for sale an iconic commercial site in the city’s busiest district.
The US government has sold a set of consular residences in Hong Kong’s southern District to Hang Lung Properties for HK$2.6 billion ($331 million).
Hong Kong Island
The sales of luxury homes in Hong Kong plunged to a three-year low in the first 6 months of 2020.
The US government has engaged CBRE as the sales agent to invite for bids for a cluster of exclusive homes at 37 Shouson Hill Road, valued at between HK$3.1 billion and up to HK$5 billion.
Mainland Chinese investors and property owners are cashing in on their Hong Kong real-estate holdings, as appetite for outbound investment evaporates in China.
Hong Kong’s home prices are no longer among the fastest growing on the planet according to a new report by Shanghai-based Hurun.
Investment in Hong Kong office and retail properties plunged by 52% last year to HK$$68.9 billion (US$8.9 billion), the largest decline in a single year since 2011.