Chris Tsang
Reporter, Business
Chris has covered the business and finance market for 10 years. Previously with Hong Kong local newspapers, he specialises in the city’s property market.
Chris has covered the business and finance market for 10 years. Previously with Hong Kong local newspapers, he specialises in the city’s property market.
Areas of Expertise:
Property, Business, Hong KongLanguages Spoken:
Cantonese, English, Mandarin
Major banks hold rates steady despite Fed action, but some sellers and buyers are already anticipating increases later, agents say.
Tighter bank lending is further weakening demand for commercial property in Hong Kong, and could tip the market into a ‘vicious cycle’, agency warns.
Leasing situation ‘steadily improving’ with new stores set to ‘open one after another’ in fourth quarter and beyond, Weber Lo says.
Shop prices in the city have fallen more than 40 per cent from their 2018 peak, but they may not have hit rock bottom yet.
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As the market digests uncertainties, new property launches are accelerating and buyers are returning to the market, executive says.
The Mid-Levels flat – once owned by Alvin Chau’s former mistress – is the latest luxury property to sell for a steep paper loss in Hong Kong.
The singer and actor recently moved into a Mid-Levels duplex near his friend, singer Tyson Yoshi, market sources say.
While North Point shop deal falls through, former home of Insomnia bar in Lan Kwai Fong sells for 60 per cent less than its 2015 value.
Developer has now won two projects in the area, which combined are expected to deliver nearly 6,800 flats.
But property consultancy Knight Frank says likelihood of near-term rise in prime rate by city’s note-issuing banks remains low.
The Northern Metropolis project is forcing a wave of brownfield tenants to relocate, lifting demand for floor space in industrial buildings.
Rising residential rents and the looming shadow of interest rate increases have the city’s homebuyers trying to balance out the risks.
Peng Chau Cinema was once a bustling nightspot but has lain virtually empty for almost four decades and is now set to go under the hammer.
Celebrities including Chow Yun-fat and William Chan have sold properties at steep discounts recently.
Hong Kong developers are rethinking their strategies for projects in the Greater Bay Area, as the mainland’s property crisis has changed everything.
Secondary residential market faces uncertainty following a strong first half, as Beijing’s capital outflow crackdown cools sentiment.
As closures continue despite rising retail sales, landlords and operators have starkly divided views on the retail leasing market.
Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties.
