Translate Page To German Tranlate Page To Spanish Translate Page To French Translate Page To Italian Translate Page To Japanese Translate Page To Korean Translate Page To Portuguese Translate Page To Chinese
  Number Times Read : 589    Word Count: 2008  

Arts & Entertainment
Cars and Trucks
Culture and Society
Disease & Illness
Food & Beverage
Health & Fitness
Home & Family
Internet Business
Online Shopping
Pets & Animals
Product Reviews
Recreation & Sports
Reference & Education
Self Improvement
Travel & Leisure
Womens Issues
Writing & Speaking


Hong Kong Real Estate for Sale and Investment

[Valid RSS feed]  Category Rss Feed -
By : Gregory Smyth    99 or more times read
Submitted 0000-00-00 00:00:00
Hong Kong is a hot destination for potential sellers and investors of property. All kinds of properties are in high demand. 2007 represents a unique year for the Hong Kong economy. The year witnessed a proportional increase in growth as the year moved forward. The major reason behind the economic reversal is the domestic demand as private consumption and investment expenditure continued to increase. In 2007 overseas investors consisting of recent entrants showed faith in the Hong Kong market. China's economic influence on Hong Kong remained to flourish even after being a republic for a decade. The influence was felt over the complete financial spectrum of Hong Kong.

The overwhelming presence of RMB in Hong Kong due to the Territory's overdependance on dollar improves the purchasing strength of Chinese visitors to Hong Kong whenever the value of dollar goes down. The enhanced value of the RMB has influenced the wealthy Mainland investors to attain luxury residential properties as reliable long-term assets. High premium Grade A office rents in Central has improved investment in office and property sections. In addition to this the Government's strong decision on land values, decrease in stamp duty, and reduction in the aggregate of resident owners having negative equity are all reasons behind the renewed interest in the luxury and mass residential sectors. The way different sectors in the market responded in 2007 is reviewed below.

In 2007 it was calculated that a total of 330 property investment deals priced over HK$100 million were handed over throughout all property sectors, resulting in an increase of 78.4% compared with 2006. The aggregate consideration in 2007 summed up to over HK$94.2 billion, a progression of about 53%. High-end luxury residential properties were in big demand for the investors and end-users. However the relative shortage of luxury housing stock in the market, gave little choice to the purchasers.

After a relatively consistent show in 2006, the retail property market recovered and showed a progressive growth from the second quarter of 2007 as a result of the neck and neck competition between an increasing number of global luxury brands. Rents and capital values recorded improvements, increasing by 16% and 33.8%, y-o-y, respectively, in 2007. The possible threats from brand new tourist spots in Macau was given top priority by the retail market in 2007. However Hong Kong still remains a favourite shopping paradise.

Rents and costs for luxury residential properties on Hong Kong Island advanced by 14.1% and 37.9% y-o-y in 2007. The land sale results attained in the six public land auctions took place in the 2007/2008 financial year were refreshing. Distribution of new luxury residential areas decreased in all four traditional luxury residential areas on Hong King, which has been the trend since 2005.

The mass residential market got two much needed backups in 2007. They are stamp duty reduction for properties hande over for a price below HK$2 million and the interest rate concession by the Hong Kong local bank. The mass residential market in 2007 recorded the most dominant display over the past few years as shown by a surge of 49.8% y-on-y which is indicated by the total residential transaction volume reaching 123,575 units.

When we look into the future the strengthening of capital values seen in 2007 as a result of comparitively short supply of quality property stock will remain throughout the next year. Oppurtunities are expected to increase in the Hong Kong market over the next few years. Thus the Hong Kong market can be expected to react in a positive way but at the same time in a guarded manner. All the facts listed above throw light to the fact that Hong Kong has few peers today when it comes to real estate sale and investment.
Author Resource:- Gregory S. is an independent author providing assessment and comments on leading International Property Consultants in Asia and Greater China, especially CB Richard Ellis.
Article From Articles Promoter Article Directory

HTML Ready Article. Click on the "Copy" button to copy into your clipboard.

Firefox users please select/copy/paste as usual
New Members
Sign up
learn more
Affiliate Sign in
Affiliate Sign In
Nav Menu
Submit Articles
Submission Guidelines
Top Articles
Link Directory
About Us
Contact Us
Privacy Policy
RSS Feeds

Print This Article
Add To Favorites


Free Article Submission

Website Security Test