〈The Standard, Jan, 11,2025〉The Housing Authority recorded a consolidated surplus of HK$9.24 billion in the current fiscal year, which is expected to increase to more than HK$15.4 billion in 2025-26.
The surplus for the coming fiscal year comprises HK$661 million from public rental housing mainly due to the 10 percent increase in public housing rents last year, over HK$1.36 billion of commercial operating accounts and about HK$13.3 billion from the sale of subsidized home ownership flats.
But according to its finance committee chairman Billy Mak Sui-choi, the capital expenditure required for major improvement works to existing public rental housing estates will cost another HK$700 million in 2025-26.
〈Hong Kong Business, Jan, 10,2025〉The Land Registry reported a 28.3% drop in property sales in December, with 5,510 sale and purchase agreements for all types of building units logged, compared to November. However, there was a significant 46.4% increase in agreements year-on-year.
The total consideration for these agreements fell 33.3% to $42.8b, but showed a 27.4% increase from December 2023.
Residential sales dropped 34.9% from November, with 4,103 agreements recorded. However, this was a 40.1% increase compared to last year.
〈Asian Post, Jan, 09,2025〉The Grade A leasing market recorded a negative net absorption of 191,500 square feet (sq. ft.) during the fourth quarter (Q4) of last year, according to CBRE.
Despite the negative absorption, it reached 956,000 sq. ft. for the full year, the highest since 2018.
Greater Central reported -24,900 sq. ft. of net absorption in Q4, bringing the full-year figure to -10,800 sq. ft., the only submarket with a negative annual figure.
Kowloon East was the weakest submarket, with -104,200 sq. ft. of net absorption for the quarter, but was the strongest for the full year, with 231,200 sq. ft.
〈RTHK News, Jan, 08,2025〉A government decision last year allowing the sale of commercial and residential facilities at the West Kowloon arts hub gave the cash-strapped project a shot in the arm, the vice-chairman of its managing authority said.
As part of a funding proposal, the West Kowloon Cultural District Authority on Wednesday said it plans to build seven residential blocks south of Austin Road West that could offer nearly 2,000 flats.
Last year, the government endorsed the sale of residential developments within Zone 2 of the site by the authority.
"That news itself already helped us a great deal," Bernard Chan, the authority's vice-chairman, told RTHK.
"It allowed us to talk to the bankers... The fact that we now potentially have a future income stream coming from the sale of these residential units, we're able to get refinancing and we can generate the necessary funding... to allow the authority to continue to operate."
〈Hong Kong Business, Jan, 07,2025〉The Lands Department has issued 15 pre-sale consents for residential developments involving 8,114 units in the fourth quarter of 2024.
Of this number, 13 are phased developments; whilst two developments are expected to be completed this year, both in Kai Tak with a total of 627 units.
Developments in Tai Po, providing 1,247 units and Wong Chuk Hang comprising 825 units, are expected to be completed by 2026.
The remaining developments are expected to be completed in 2027. Two are in Kai Tak with 1,007 units, whilst the remaining are in Fanling with 765 units, Sai Kung with 960 units, and Tseung Kwan O providing 2,550 units.
