〈The Standard, Mar 29, 2025〉Hong Kong's ascent as a prime destination for wealthy families to establish family offices to manage their wealth and legacies has been nothing short of remarkable. Financial services secretary Christopher Hui Ching-yu's recent remark on how quickly the number of these offices has been growing was another shot in the arm.
The city has pulled ahead of its rival Singapore at least in numbers.
As of late 2023, Hong Kong hosted around 2,700 single-family offices or SFOs. The government's InvestHK aims to add 200 more by year-end - a goal Hui said the city could readily beat.
In contrast, Singapore had around 1,400 SFOs as of 2023. Its growth has apparently slowed since it cracked down on a major money laundering case involving US$2.3 billion (HK$17.94 billion). The nation subsequently tightened scrutiny of the money source.
〈Hong Kong Business, Mar 28, 2025〉Hong Kong bank's profits and asset quality should be able to manage higher property-related bad loans and commercial real estate strains, reports S&P Global Ratings.
"Hong Kong banks, particularly the largest ones, have diversified loan portfolios, adequate collateral, and reasonable underwriting standards," said S&P Global Ratings credit analyst Ryan Tsang.
However, small and midsize banks are likely to experience greater strain due to their higher exposure to commercial property loans and, potentially, to smaller and leveraged developers and investors, Tsang warned.
〈Asian Post, Mar 27, 2025〉As of February, theLands Department (LandsD) managed over 5,800 short-term tenancies (STTs) spanning approximately 3,000 hectares, covering many different uses, according to Secretary for Development Bernadette Linn.
Around 60% of STTs are designated for daily life-related purposes, including public fee-paying carparks, education, social welfare, religion, leisure, and recreation.
The remaining 40% are for commercial and economic activities, which include shops, workshops, cargo container handling, open or indoor storage, and shipyards.
〈Hong Kong Business, Mar 26, 2025〉The government has dismissed S&P’s claim that the city has an oversupply of residential properties, stating that demand remains strong.
It pointed to a private housing vacancy rate of 4.5% at the end of 2024—consistent with the 20-year average—and rising rental prices.
The government expects the market to remain stable in 2025, supported by lower interest rates, economic growth, and an inflow of talent.
Property lending totaled $3.4t at the end of 2024, with residential mortgages making up 56% and commercial property loans 44%. Mortgage delinquency stood at 0.12% as of January 2025, whilst negative equity cases remained low at 0.15%.
〈RTHK News, Mar 25, 2025〉The New Capital Investment Entrant Scheme was launched in March last year, with the minimum amount of investment for applicants tripled to HK$30 million.
In a written reply to Legco, financial services minister Christopher Hui said more than 900 applications have been received for the scheme.
He said about 750 applications have been approved in principle, and some 340 cases have been officially greenlit.
The minister said HK$27 billion of investments will be brought into the SAR if all cases are approved.
