This is the weekly news wrap, featuring the latest real estate stories from Hong Kong. Whether your interest lies in industrial, retail, office real estate or asset investments, we have got the news that matters, covered.
Hong Kong’s Property Prices Will not Always Go Up
South China Morning Post
Politicians and governments around the world like to promote home ownership as a force for social stability. But Hong Kong has proved home aspiration can become a source of social discontent and malaise for young people and the middle class.
HKEX Says Agreement Reached on Dual-Class Shares in Link
Chinese investors will eventually be able to buy stocks with weighted-voting rights, such as Xiaomi, through links with Hong Kong, the city’s stock exchange said in a statement, days after China’s bourses barred such companies from the cross-border trading program. Hong Kong Exchanges & Clearing said it reached an agreement with the Shanghai and Shenzhen bourses on Tuesday to set up a working group to form rules on the new adjustment as soon as possible. It didn’t provide details on the timing.
Wheelock Unit Launches Offer for Singapore Subsidiary
A unit of Hong Kong-based developer Wheelock and Co said it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore Ltd at S$2.10 each. Star Attraction, a wholly-owned indirect subsidiary of Wheelock and Co, said the voluntary unconditional general offer would allow Wheelock Property shareholders to realise their investment entirely in cash at above the highest closing price of the shares since January 2010.
China Property Investment Softens in June
Growth in real estate investment in China finished June well above the pace seen a year prior but the latest reading still reflected a more marked slowdown than in previous months. Investment in real estate development in the first six months of 2018 grew 9.7 per cent, solidly higher from the 8.7 per cent rate seen a year prior but 0.5 percentage points lower from the year through May. That also reflected the largest slowdown so far in 2018 and came before a July announcement from China Development Bank that the policy lender was tightening loan approvals for a subsidy programme.
Chinese Property Developers Fall on a Weak Yuan
South China Morning Post
Mainland Chinese property stocks dropped on Friday morning under the weakest yuan in a year, continuing the trend of a sector which has been falling in recent months. A depreciation of the yuan, which was at its lowest in a year by Thursday’s market close, and government policies to control home prices have caused a continued downfall of the property market.
Why Hong Kong Has the World's Most Expensive Office Space
Features Tom Gaffney, Regional Managing Director, CBRE Greater Bay Area and Hong Kong
Taiwanese Beverage Shops Open in Causeway Bay and Mong Kok
Hong Kong Economic Journal (Chinese only)
Hong Kong Tops Global Office Rent Rankings for 3rd Year
Nikkei Asian Review