〈The Standard, Nov 7,2024〉KTR350 is a new commercial development in Kwun Tong whose striking appearance and innovative interiors brim of eco-friendliness and wellness.
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.
〈The Standard, Nov 6,2024〉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.
〈The Standard, Nov 5,2024〉Home prices are slated to recover by around 5% in 2025, BEA’s chief economist said.
The Bank of East Asia (BEA) expects the mainland China and Hong Kong economies to register “moderate” growth in 2025, amidst risks that will weigh on interest rates.
The Hong Kong-based bank expects Hong Kong’s economy to grow 2.5% for the whole year, whilst the mainland China’s economy is expected to grow by 4.8%.
“The Chinese mainland economy is on track to achieve its growth target of around 5% in 2024,” said Ricky Choi, BEA’s chief economist, in a media briefing in December 2024.
“Even in the face of Donald Trump’s second presidency, we believe the mainland authorities possess abundant policy tools to ensure steady growth in 2025,” Choi added.
〈Asian Post, Nov 4,2024〉The total land premium revenue for fiscal year 2024/25 has reached only $3.7b as of October, representing 11.2% of the government's target of $33b, according to Colliers.
Colliers noted that this target constitutes just 5.2% of the total government revenue goal, a sharp decline from the pre-COVID and social unrest average of around 20%.
“The current land premium revenue also reflects an 81% decline from the previous fiscal year’s land premium of HKD19.58 billion, highlighting the challenges of aligning land sale strategies with market realities,” said Kathy Lee, head of research at Colliers
〈Asian Post Nov 3,2024〉New home inventory is expected to balance by late 2025, as the months of housing supply dropped from its peak at 101.6 months, according to JLL.
In a report, JLL said if primary market transaction volumes normalize to 18,000 units annually, months of supply could decline further to 58.0 months by December, nearing levels seen in 2021.
Although current inventory levels remain high, with unsold units in completed projects and ongoing constructions, forward-looking supply indicators suggest improvement.
