〈The Standard, Nov 23,2024〉MTR Corporation (0066) received 33 expressions of interest for the relaunched Tung Chung East Station Phase 1 project, one more than a year ago.
Local developers including Sun Hung Kai Properties (0016), CK Asset (1113), Henderson Land Development (0012), Wheelock Properties, Chinachem, Emperor International (0163), Far East Consortium International (0035), K&K Property and Chun Wo Development were said to have submitted their expressions.
The target project has a gross floor area of 322,900 square feet for residential use, which is estimated to be able to offer about 600 units. The market valuations range from HK$320 million to HK$480 million.
〈Asian Post, Nov 22,2024〉Hong Kong's investment market is showing signs of recovery following a recent cut in US interest rates, a report by Savills revealed.
In mid-September, the US Federal Reserve reduced its benchmark rate by 50 basis points. This led Hong Kong banks to lower their prime lending rates by 25 basis points, despite having only raised them by 87.5 basis points over the past two years, while the US Fed raised its rates by more than 500 basis points.
The rate cuts had an immediate effect on the stock market, with the Hang Seng Index rising by over 1,500 points in just one week. The announcement of further economic stimulus policies by the Central government gave additional momentum, pushing the index up by a further 2,000 points, a gain of more than 20% in less than two weeks.
〈Hong Kong Business, Nov 21,2024〉Hong Kong will have high housing inventories and will likely focus on destocking in the coming years, according to S&P Global Ratings.
"Developers will face further margin pressure because they will be booking residential projects acquired back when land prices were higher,” said S&P Global Ratings credit analyst Edward Chan.
The weighted average earnings before interest, taxes, depreciation, and amortisation margin could edge down further to 34.9% by their fiscal year 2026.
〈Hong Kong Businesd, Nov 20,2024〉Rental price increases, which averaged 5.8% this year, are expected to surpass the 2024 baseline next year, according to Colife Hong Kong.
This is due to strong demand from new arrivals and potential homebuyers including foreign talent and international students, who are currently sidelined by high mortgage rates.
“In 2024, rental costs for our Colife apartments rose by 10%. In 2025, we forecast an increase of up to 20%. There is also a general rise in market prices and a lack of comfortable apartments and co-living options with included services.
〈RTHK News Nov 19,2024〉Financial Secretary Paul Chan on Friday said global investors have confidence in Hong Kong, dismissing reports of capital moving out of the city.
Speaking at a forum on wealth management, Chan highlighted Hong Kong's status as a well-established international financial hub.
"Hong Kong's fundamentals as an international financial centre have remained as strong as ever. Recently, Hong Kong returned to the top three global financial centres, along with New York and London," he said.
"Yet from time to time, we come across reports about Hong Kong, such as those on the outflow of funds. A few important facts will illustrate that international investors remain highly confident in Hong Kong."
