The shifting face of luxury property in Hong Kong

Source: SCMP, Oct 16 2018

Author: Victoria Allan

In 2018 luxury constitutes more than just price point, and size, it is also about location, authenticity, lifestyle and design.

As an old saying goes, one man’s trash is another man’s treasure, and if ever that adage could be applied to Hong Kong real estate, it’s now. Maybe not the trash part per se, but certainly the core idea that there are as many notions of the perfect home as there are people to live in them.

Read more: https://www.scmp.com/business/article/2168567/shifting-face-luxury-property

 

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It seems everybody needs a home but more than one is too many in HK

Source : SCMP, Nov 4, 2016

Author : Peggy Sito, Jennifer Li

Hong Kong’s top official has raised the property stamp duty for the second time in three years to tame soaring real estate prices in the world’s least affordable major city, ahead of an election campaign where housing affordability is likely to be a central issue.

Effective November 5, the stamp duty on property transactions for non-first-time buyers will be raised to 15 percent for individuals and corporate buyers, Chief Executive Leung Chun-ying said in a televised press conference in the city.

Read more : http://www.scmp.com/property/hong-kong-china/article/2043085/hong-kong-more-doubles-property-stamp-duty-15-cent-cool

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Mortgage plans launched

Source: The Standard, Sep 30 2016

Hong Kong Credit Corporation yesterday said it is launching two new mortgage plans with Centaline Mortgage Broker.

The broker is a subsidiary of Centaline Property. Under the first plan, up to 90 percent for homes worth less than HK$8 million and as much as 80 percent for units priced less than HK$12 million can be loaned.

In the second plan, a mortgage of up to 80 percent of the home price can be given without conducting a pressure test. The test measures a borrower’s ability to repay the loan on time. Repayment period for both plans is 30 years, with an interest rate of P-2 percent and P-1 percent respectively. The prime rate now stands at 5.25 percent.

“We launched these mortgage plans to attract more first-time buyers and those who would like to change homes,” said said Ivy Wong Mei-feng, managing director of Centaline Mortgage Broker.

Read more: http://www.thestandard.com.hk/section-news.php?id=174593

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