Hong Kong Eases Mortgage Rules to Bolster Property Market
Hong Kong introduces changes to mortgage rules for homes under construction, in an effort to alleviate high borrowing costs and boost the property market.
RESIDENTIAL
HK Property Sales in Aug. 2023: Monthly Surge Represents Yearly Decline
September 06, 2023
The Land Registry documented a total of 4,660 sale and purchase agreements for all building units in August, marking a 5.3% increase compared to July. However, this figure represented a 11% decrease when compared to the same period last year.
The overall consideration for these agreements experiences a 5.8% growth from July, reaching HK$34.9 billion in August. Nevertheless, there was a significant decline of 61.9% in comparison to the previous year.
Out of the total agreements, 3247 were specifically for residential units. This reflected a 5.9% increase from July, but a substantial 21.5% decrease from the previous year.
The total consideration for residential units was at $28.6 billion, showing a 7.7% rise from July. However, it represented an 11.8% decline when compared to August of the previous year.
During the same month, there were a total of 449,051 land register searches conducted.
Get the latest curated content with The Beat Asia's newsletters. Sign up now for a weekly dose of the best stories, events, and deals delivered straight to your inbox. Don't miss out! Click here to subscribe.
McDonald’s Hong Kong Opens New LEED Zero Carbon Restaurant in Tai Wo
The newly renovated McDonald’s restaurant in Tai Wo, New Territories has earned the distinction of being Hong Kong's first-ever LEED Zero Carbon restaurant.
Steelcase Series 1: The Ultimate Office Chair You Didn't Know You Needed
After 30 days of in-depth testing, the Steelcase Series 1 emerges as more than just an office chair—it's an ergonomic revelation. Plus, a last chance to win one for yourself!
Linehouse’s Alex Mok and Briar Hickling Talk Sleek Residential Design
We interviewed Alex Mok and Briar Hickling of Linehouse, an architecture interior design studio in Hong Kong, Shanghai, and Auckland focused on creating great residential design.