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Standard & Poor's expects that Hong Kong property prices will stabilize next year, raising the sales volume forecast for new projects to 0.02 million units.
Rating agency Standard & Poor's released a report stating that after a nearly 30% decline in high Hong Kong property prices in 2021, they are expected to stabilize next year. However, local developers are still struggling, mainly due to high inventory, and the recognition of residential projects purchased during the period of high land prices will further pressure profit margins. Nevertheless, Standard & Poor's believes that with the government relaxing housing market measures and interest rates trending downwards, they have revised their forecast for next year's new home sales volume to 0.02 million units. In addition, Standard & Poor's expects that the future three to four years' new supply may exceed 80% of the government's ten-year private residential supply target.
"The Cullinan" in West Kowloon has sold a total of 172 units, cashing out nearly 1.4 billion.
CSI Properties (00497.HK) under the West Kowloon Residence project 'Gao Lin' has sold a total of 172 units, realizing nearly 1.4 billion yuan in cash, with a highest fill price of over 0.04 million yuan. He Le Hui, Executive Director of CSI Properties, mentioned that the project previously received special buyers 'One Customer, Four Meals', who purchased four units for about 88 million yuan, with one of them acquiring the top-level flat with platform features for nearly 65 million yuan, setting a new record for project fill price and price per square foot. Vice Executive Director (Residential Sales) Bi Zihong pointed out that the 'Gao Lin' project has introduced new benefits including 'Stamp Duty Paid by Proxy' and a brand new 'High-End Talent Payment Plan'. Taking into account these two latest incentives
Unit 2 in 15 Mount Nicholson sold for 0.845 billion yuan in "The Albany", marking the largest transaction on Hong Kong Island in over two years.
Emperor Int'l (00163.HK), C C Land (01224.HK), and Capital Strategy (00497.HK) jointly developed the Shoushan Mountain Mansion project 'No. 15 Shoushan Mountain', recently sold the 2nd mansion for 0.845 billion yuan, at a price of 69,990 yuan per square foot, setting a new record high for new mansions in the Hong Kong Island area since June 2022. Since the project was launched in June 2022, a total of 7 mansions have been sold, generating cash of approximately 3.95 billion yuan.
Many real estate stocks surged by over 60%! On the first day of the new policies in Beijing, Shanghai, Guangzhou, and Shenzhen, some people even "bought houses in the air" overnight!
After the opening of the Hong Kong stock market, the real estate sector has the highest increase, with more than several individual stocks still rising by over 60% as of the time of writing.
"Harbour House" in Jordan launches an additional 26 units at a practical selling price starting from 6.097 million.
CSI Properties (00497.HK) under the strategy of Jordan's 'Kowloon High' will launch 26 units, including 2 one-bedroom, 21 two-bedroom, and 3 three-bedroom units. The price list ranges from 7.089 million to 17.143 million yuan. After deducting the highest 14% discount, the actual selling price ranges from 6.097 million to 14.743 million yuan, and the actual price per square foot ranges from 21,301 to 25,082 yuan. The above units will be sold on a first-come, first-served basis this Saturday (28th). Lawrence Ho, Executive Director of CSI Properties Limited, stated that the project has sold a total of 163 units, realizing over 1.25 billion yuan in cash.
"Hong Kong Tower" Zadanshan luxury mansion "Emperor's Court" global rental
CSI Properties (00497.HK), Pan Ocean International (00129.HK), and GF Noah Asia Pacific cooperation and development, located at 47 White Construction Road, Cheung Tien Shan, for the first time, the "Master Duplex" mansion on the only large flat duplex unit is open for reservation by interested tenants. The open unit is Unit A on the 19th to 20th floors, with a usable area of 5,696 square feet, including an 84 square feet terrace, with a design of four bedrooms and three ensuite bathrooms. The unit will immediately begin "global rental". He Lok Fai, Executive Director of CSI Properties Limited, said that it is benefited from the measures to lift the control of the property market.
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