〈The Standard, Mar 8, 2025〉Chinese developer Longfor (0960) expects its core net profit, which excludes effects of fair value changes of investment properties and other derivative financial instruments, to drop by 35 to 40 percent last year from 11.35 billion yuan (HK$12.2 billion) in 2023 amid a sluggish market.
The downturn in the real estate industry resulted in the decline in revenue recognized and gross profit margin recognized of the property development segment of the developer, according to a filing on Friday.
〈Hong Kong Business, Mar 7, 2025〉Hong Kong saw increased investment activities and broader investor participation during the fourth quarter of 2024, according to a Colliers report.
Investors mainly focused on assets under receivership or those being sold at a loss, with active players being well-capitalised cash buyers, end-users, or a mix of both.
Colliers noted that, in the office segment, Hong Kong investors are now focusing on heavily discounted properties and those with repurpose potential.
Meanwhile, most retail transactions in Hong Kong during Q4 2024 closed at high yields, attracting investors seeking stable returns amidst market uncertainty.
〈Asian Post, Mar 6, 2025〉Hong Kong remains one of the world’s top cities for super-prime property transactions, with 166 ultra-luxury real estate sales recorded in 2024, according to Knight Frank’s Wealth Report 2025.
Whilst economic uncertainty dampened overall market activity, demand from ultra-high-net-worth individuals kept the high-end sector resilient.
Despite a slowdown in the broader property sector, Hong Kong’s prime residential market is expected to rebound in 2025, driven by recent policy shifts and more favorable financing conditions.
The relaxation of property-buying restrictions and potential interest rate cuts are anticipated to boost investor sentiment and transaction volumes in the coming months.
〈Hong Kong Business, Mar 5, 2025〉Hong Kong leads in multi-residency amongst global wealth hubs, with 79% of surveyed entrepreneurs holding multiple residencies, according to HSBC.
In its report, HSBC said Hong Kong ranked second only to New York in terms of ultra-high-net-worth (UHNW) residents, with 12,545 individuals calling the city home.
It also noted almost half or 49% of Hong Kong entrepreneurs hold a second residency in mainland China, whilst 37% of mainland Chinese entrepreneurs maintain a residency in Hong Kong.
Meanwhile, 76% of Hong Kong entrepreneurs are considering adding another residency—the highest percentage amongst the ten markets surveyed.
〈RTHK News, Mar 4, 2025〉Authorities insist there is still keen demand for housing, citing a low vacancy rate for private flats, in response to a market report suggesting the city's home market is on the decline due to a supply glut.
In a statement on Thursday, an SAR government spokesman added delinquent residential mortgages remained at an extremely low level, and that banks are mitigating their credit risks.
The comments were in response to an S&P report on Hong Kong's banks and property market.
"We disagree with the observation that there is an oversupply of residential properties," the spokesman said.
