Better than Kowloon?
With property prices at record highs, the Hong Kong government is trying to turn mainland Chinese buyers away.
But other investment destinations are already stepping into the breach – and luring the cash-rich mainlanders away from Hong Kong. Read more
It has become a truism that the Hong Kong property market is overheated. Residential property prices increased 120 per cent between 2008 and February 2013, according to Hong Kong’s Financial Secretary John Tsang, who gave the figure while announcing a sixth round of cooling measures aimed at curbing the relentless growth. But maybe now the moment of the apex has arrived: because Li Ka-Shing (pictured) says so. Read more
Retail rents remain buoyant in emerging markets as an expanding middle class attracts tenants despite the global economic slowdown.
Commercial property services company, Cushman and Wakefield, surveys its international offices annually to study retail rental performance. In the year to June 2012, rents increased 4.5 per cent globally, rising in 147 of 326 locations. Read more
Cheung Kong Holdings, which is controlled by Hong Kong based billionaire Li Ka-shing (pictured), has had its long-term corporate credit rating withdrawn by Standard & Poor’s, the rating agency, which says it is not in a position to “accurately assess” its credit quality.
In its statement, S&P said Cheung Kong Ltd (1:HKG), Hong Kong’s second-biggest builder by market value, had lost its A- rating because the ratings agency had “no access to the company management for the past three years.” Read more
Wealthy Chinese squeezing Britons out of property market, shouted the UK tabloid press. Old-school shock-horror sensationalism, you may think. But the reports are backed by some pretty astounding numbers compiled by Knight Frank, the UK real estate agent. Read more