〈The Standard, Oct 26, 2024〉A luxury house at 28 Peak Road, owned by a local family, reportedly sold for over HK$1 billion at around HK$112,000 per square foot, marking the largest high-end property transaction since the rate cut.
The property spans 16,700 square feet, featuring a large garden, pool and a villa with a usable area of about 8,910 square feet.
It includes a basement with a garage and helper's quarters, a ground floor with living and dining areas, a kitchen, a guest suite and the first floor has six en-suite bedrooms.
〈Asian Post, Oct 25, 2024〉Real estate expert JLL expects Hong Kong hotel investment volume to fall 35% YoY to US$500m in 2024.
Whilst the investment market remains active, JLL said investors have become more selective, opting for city centre hotels in prime locations.
“The city is experiencing high vacancy rates in many hotels, particularly in the three- and four-star categories, largely due to changing tourist consumption patterns,” said Oscar Chan, head of Capital Markets at JLL in Hong Kong.
〈Hong Kong Business, Oct 24, 2024〉Vacancy pressure may compel office landlords to adopt a favourable attitude towards semi-retail occupiers on office floors, according to CBRE.
In line with this, CBRE observed that landlords have been offering attractive leasing packages such as rent-free periods and CapEx subsidies to secure existing and new tenants.
In Q3, office demand improved due to banks and wealth management firms, whilst the retail and wholesale sector has increased its share of leasing activity in recent months.
Additionally, alternative sectors that enhance tenant experience are gaining popularity in office buildings.
〈Hong Kong Business, Oct 23, 2024〉About 30.5% of Hong Kongers said they would adopt a "lying flat" approach to meet the qualifications for applying for public housing.
The Hong Kong Housing Authority, the Hong Kong Federation of Youth Groups, the Kowloon Youth Committee, and the New Territories Youth Association, collectively known as the "Four Associations," conducted the survey amongst young people aged 18 to 40 in Hong Kong,
However, nearly 60% of respondents stated they would not do so to meet public housing application criteria. Over 80% of respondents attributed the phenomenon to unaffordable private housing prices of young people, whilst 61% cited insufficient opportunities to purchase subsidised sale housing.
〈RTHK ,Oct 23, 2024〉Financial Secretary Paul Chan has concluded his three-day visit to New York and is expected to be back in Hong Kong on Friday night.
On the final day of his stay, Chan met representatives from several family offices at a breakfast meeting, introducing them to Hong Kong's advantages as a global hub for asset and wealth management, as well as the latest developments in this field.
Before leaving New York, Chan toured a local startup accelerator platform, Newlab, and told them about Hong Kong’s plan to establish more accelerator bases to support the growth of startups. The finance minister also invited the platform to consider setting up a base in the SAR.
