CBRE Group: The budget has fewer policies to stimulate Real Estate demand and is optimistic about the local economic outlook in the medium term.

Welcome to the Financial Secretary Paul Chan Mo-po, who presented the new "Budget" today (26th). Chen Kam-ping, head of the Hong Kong research department at CBRE Group, stated that the government remains optimistic about Hong Kong's mid-term economic prospects and is confident that Hong Kong's budget will return to surplus in 2026-2027, with GDP forecasts for 2026-2029 at 2.9% per year, higher than the average annual rate of the past decade.

AASTOCKS14:21

The Hong Kong stock market's afternoon gains have expanded to over 750 points, while local real estate stocks lagged behind. Shanghai New World (00017.HK) once surged by 6%.

The government has announced the new fiscal budget for the year, relaxing the property transaction stamp duty threshold from 3 million to 4 million, effective immediately. The government also stated that it will closely monitor market conditions and developments, and will selectively and orderly launch land. Learning from past experiences where insufficient land has constrained the development in Hong Kong, planning and land reclamation work cannot stop. However, the pace of land releases can be adjusted according to actual circumstances. The government also announced that it will not sell commercial land in the coming year, considering converting some commercial land for residential use. Local real estate stocks generally rose moderately in the afternoon, but the increase lagged behind the broader market. This Friday (28th), the results from the end of last December will be announced.

AASTOCKS13:30

The Buildings Department approved 14 building plans last December for "Hong Kong Tower", with Kerry's Tsuen Wan Po Fung Road approved for the construction of four Residences.

The Buildings Department announced that in December last year, 14 building plans were approved and 29 occupancy permits were issued. Among the 14 building plans, three involve residential and mixed-use developments, as well as four commercial developments. This includes KERRY PPT (00683.HK) project on Po Fung Road in Tsuen Wan (adjacent to La Cite/ Vista Paradiso) which has been approved to build four residential towers ranging from 21 to 23 stories high, with a residential floor area of approximately 0.3143 million square feet and a non-residential area of approximately 0.0169 million square feet. Additionally, the project at the intersection of Laundry Street and Argyle Street by Sun Hung Kai Properties (00016.HK) has been approved to build a 56-story commercial building and a 4-story commercial building with government facilities, allowing for a total construction area.

AASTOCKSFeb 25 11:29

In Yuen Long, "Long Tian Feng" has released an additional 121 units for sale on Saturday.

KERRY PPT (00683.HK) located at Yuen Long, sold out all units in the first round of sales last week for 'Long Tian Feng'. The developer yesterday (24th) launched the 4th price list with a total of 121 units, including 32 one-bedroom units with open kitchen, 53 two-bedroom units with open kitchen, 18 two-bedroom units, and 18 platform special units. The usable area ranges from 245 to 446 square feet, with the price per square foot starting from HKD 11,210 after discounts and cash rebates, and sales are scheduled for Saturday (March 1st). KERRY Property's Senior Director of Sales and Market Planning, Lo Wing Chun, stated that the listed selling price of the new price list is 425.

AASTOCKSFeb 25 09:46

Market Chatter: Kerry Properties Sells Out 250 Units in Yuen Long Project; Shares Rise 5%

MT NewswiresFeb 24 15:39

After five consecutive weeks of decline, the Meilian real estate price Index has stabilized, with the confidence Index reporting 64.5 points, a decrease of 2.4% month-on-month.

"The Hong Kong Property Price Index" latest reports at 127.49 points, slightly rising by 0.02% month-on-month, stabilizing after five weeks of decline; however, compared to four weeks ago, the Hong Kong Property Price Index still dropped by 0.95%, and so far this year has recorded a decrease of about 0.5%.

Zhitong FinanceFeb 24 14:40