〈The Standard, Nov 30, 2024〉A stroll along the busy Kwun Tong Road brings you to an eye-catching building that stands out from the sea of soaring square offices. To some people, its cylindrical and elliptical façade resembles a stack of coins to bring good fung shui to its tenants, but for others, it offers circular office spaces to boost staff productivity and creativity.
The truth is that this Grade A commercial building is a novel representation of wool yarn in a spun, inspired by its developer LAWSGROUP which has roots in apparel manufacturing for over 50 years.
Conceptual ideas aside, this unique architectural design actually functions to bring out optimal environmental benefits. It boosts material efficiency that cools the building by improving heat dissipation; increases energy efficiency and lowers energy usage; optimizes natural lighting; improves ventilation and reduces wind resistance.
〈Bloomberg, Nov 29, 2024〉Home sales in Canada edged higher in September after another interest rate cut by the Bank of Canada brought down the cost of mortgages.
Sales of existing homes rose 1.9 percent from a month earlier, according to data released by the Canadian Real Estate Association. The benchmark home price was up 0.1 percent to C$718,200 (HK$4.05 million).
Housing activity in Canada has been sluggish since 2022, when borrowing costs sharply rose in response to a burst of inflation pressure. But with rates now declining -- and the Bank of Canada indicating they will drop further in the months ahead -- there are early signs the market is thawing.
〈Hong Kong Business, Nov 28, 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.
Home prices should stabilise next year after losing nearly 30% from a 2021 peak. S&P also forecasts primary sales to reach 20,000 units in 2025.
However, that compares to 21,000 completed units in inventory as of September 2024. New supply over the next years may exceed 80% of the government's 10-year private home target.
〈Asian Post, Nov 27, 2024〉Tsim Sha Tsui has been ranked the fourth most expensive retail street in the world and the most expensive in APAC, Cushman & Wakefield reported.
Rents in Tsim Sha Tsui increased by 7% year-on-year (YoY) to $2,162 (US$1,607) per square foot (psf) over the past 12 months.
Causeway Bay ranked second in APAC, with rents reaching US$1,430 psf, reflecting a 3% YoY increase.
Via Montenapoleone in Milan claimed the top spot globally, with rents at US$2,047 psf, whilst Kohlmarkt in Vienna ranked the lowest, with rents at US$553 psf.
〈RTHK News, Nov 26, 2024〉Housing minister Winnie Ho said on Wednesday that officials have taken back some 6,400 public flats in the past two and a half years after tenants were found to be abusing housing resources.
In a written reply to a question from Heung Yee Kuk lawmaker Kenneth Lau, Ho said nearly 400 tenants were prosecuted during the period.
Seven of them were given jail terms or suspended sentences for violating housing laws. In the most serious case, a tenant was given an immediate jail term of 30 days.
The government is to launch a reward scheme in January, giving people around HK$3,000 for reports of tenancy abuse.
