Hong Kong property market scaled new high in August

[phantom_opera]

[Centa-City Leading Index]
106.54

Monday, August 06, 2012

Sentiment in the property market remains positive as investors seek out investments other than equities.
Over the weekend, home prices climbed to yet another all-time high as more apartments changed hands.

Centa-City Index, a benchmark for Hong Kong's secondary home prices, climbed to a record 106.54 in the last week of July.

"As market sentiment continued to heat up in the past couple of weeks ... transactions of mid- to high-priced flats increased significantly," said Ricacorp Properties executive director Willy Liu Wai-keung.

Highlighting the strong demand, a 433-square-foot flat at Tai Po Centre was sold within one hour of listing, according to Mark Fong, an assistant sales manager at Centaline Property Agency.

[phantom_opera]

Looks more like SPRI Central ... but HK has cleared its 1997 peak of 102.93

Weekly update ... much better than our NUS SRPI

[Laguna]

Hong Kong has much better tracking systems than in Singapore.
They track by the top estates, including the number of viewing etc.
They have much better transparancy in term of property info

[kane]

The past 10 years look pretty gradual in terms of the gradient.

[phantom_opera]

The past 10 years look pretty gradual in terms of the gradient.

the gradient after QE1 is much steeper compared to b4

[kane]

the gradient after QE1 is much steeper compared to b4

QE1 triggered the recovery.

[phantom_opera]

This Week Previous Week Previous Month
[Centa-City Leading Index]
108.8

+0.75 %(wow) +1.82 % (mom)

after QE3 is announced, this week could hit 110 !!!

[phantom_opera]

HONG KONG (AP) — The Fed's latest plan to spend billions on securities and keep interest rates near zero is being hailed by investors desperate for economic salvation. But in Hong Kong it is causing headaches for officials worried about a frothy property market.

Officials in the southern Chinese financial center said on Friday they were concerned about the local housing market overheating following the Federal Reserve's new moves to revive the U.S. economy.

Because Hong Kong's currency is pegged to the U.S. dollar, officials can't raise interest rates to cool the property market. Instead, they must follow U.S. monetary policy.

Officials announced tighter requirements on mortgage borrowers aimed at cooling the property market and protecting the banking sector.

Hong Kong house prices have nearly doubled since the start of 2009, according to a widely watched index compiled by realtor Centaline. The city is one of the world's least affordable places to live. Prices have risen because of low interest rates, easy credit, an influx of money from mainland China and limited supply of new housing.

"We expect that the period of exceptionally low interest rates and abundant global liquidity will stay with us longer and the risk of overheating in the property market in Hong Kong will increase," said Norman Chan, chief executive of the Hong Kong Monetary Authority. The authority is the central bank of the semiautonomous Chinese region, which has its own financial and legal system separate from mainland China.

Financial Secretary John Tsang was even blunter.

The third round of so-called quantitative easing, which involves an open-ended plan by the Fed to buy $40 billion worth of mortgage bonds a month, "may lead the market to expect that property prices would rise further," he said.

"This deviates from economic fundamentals and substantially increases the risk of a bubble forming," Tsang said.

The monetary authority will require banks to tighten up requirements for applicants taking out a second mortgage or whose income comes mainly from outside of Hong Kong. It will also cap new loans at 30 years after growing concern that loan periods were getting longer, with some up to 40 years.

High property prices are a growing source of frustration for the city's residents, many of whom can only afford to live in tiny apartments. Hong Kong's new leader, Chief Executive Leung Chun-ying, has announced measures to raise the supply of units but they've had little effect on prices so far.

___________

[Laguna]

HK has up LTV, debt serving ratio etc....

[phantom_opera]

talk talk only, other than restricting loan to 30y

For home buyers who already have one property, their mortgage payments for investment properties cannot exceed 40 percent of their monthly income, down from the current 50 percent limit allowed. In other words, a new buyer of a second home has to make a 10 percent more down-payment in applying for mortgage loans under the new HKMA measure.

HKMA also said it had capped the maximum tenure for new home mortgage loans to 30 years to decrease the business risks undertaken by local banks. Some banks had been offering mortgages of up to 40 years.

[phantom_opera]

http://www.squarefoot.com.hk

[Kanarazu]

[Centa-City Leading Index]
106.54

Monday, August 06, 2012

Sentiment in the property market remains positive as investors seek out investments other than equities.
Over the weekend, home prices climbed to yet another all-time high as more apartments changed hands.

Centa-City Index, a benchmark for Hong Kong's secondary home prices, climbed to a record 106.54 in the last week of July.

"As market sentiment continued to heat up in the past couple of weeks ... transactions of mid- to high-priced flats increased significantly," said Ricacorp Properties executive director Willy Liu Wai-keung.

Highlighting the strong demand, a 433-square-foot flat at Tai Po Centre was sold within one hour of listing, according to Mark Fong, an assistant sales manager at Centaline Property Agency.

Taipo Centre has lots of amenities but not near MTR station, need to take bus a few stations. And 433 is inclusive of shared corridor space.

[kane]

Since Laguna is in HK reporting live ... sharing some NT (East) around Shatin area

City One Shatin 7,479.77 9,406.72 +7.20 % (mom)
Garden Rivera 6,676.55 9,844.22 8.19 %
Bayshore Tower 7,187.45 9,660.56 13.17 %

scary. are these resale, subsale or brand new?

[kane]

within 1hr of listing? those guys think it's ebay with a buy it now function or something?

[Kanarazu]

scary. are these resale, subsale or brand new?

第一城係舊盤。。。。

[phantom_opera]

sorry ... instead project month on month info, i think the squarefoot.com.hk kind of give u more access to info

and this is as of July 2012:

[kane]

第一城係舊盤。。。。

mandarin not so good. if i literally translate it, it means "first series resale". which means what har?

[Kanarazu]

mandarin not so good. if i literally translate it, it means "first series resale". which means what har?

Means City One is resale...

[kane]

i see. garden one and bayshore are new sale?

[Kanarazu]

i see. garden one and bayshore are new sale?

Not sure... Maybe if you tell me Chinese name I can still remember.

[kane]

Not sure... Maybe if you tell me Chinese name I can still remember.

i'm not familiar with hk properties so can't help.

[phantom_opera]

HK market has posted a number of record-breaking transactions recently.

According to the firm, a 514-square-foot flat at Healthy Gardens in North Point (1980) was sold for HK$5.1 million, or HK$9,922 per sq ft (SGD1574), both a record for the housing estate.

The vendor bought the flat for HK$1.3 million in August 2003, meaning the capital value of the flat has surged 292 per cent in nine years.

Another record-breaking deal was seen at Tsing Yi Garden (1986). A 432-square-foot unit was sold for HK$3.1 million, or HK$7,176 per sq ft, the highest ever in the housing estate in terms of average price.

In the primary market, Wheelock Properties released the first batch of 30 flats at Kadoorie Hill in Prince Edward Road West (Kowloon) for sale yesterday.

According to agents, about 20 flats have been sold so far, with prices ranging from 18,000 per sq ft to 20,000 per sq ft,

[kane]

Wah, their resale dua cheong.

[phantom_opera]

50 units at The Wings project by Sun Hung Kai were snapped up in just two days. Notably, the average selling price of 38 four-bedroom units rose to HK$11,108 psf (S$2,237 psf) compared to the HK$10,688 psf (S$1,691.59 psf) fetched in the first release.

http://www.thewings.com.hk/html/

above the Tseung Kwan O (將軍澳）MTR station

[ikan bilis]

50 units at The Wings project by Sun Hung Kai were snapped up in just two days. Notably, the average selling price of 38 four-bedroom units rose to HK$11,108 psf (S$2,237 psf) compared to the HK$10,688 psf (S$1,691.59 psf) fetched in the first release.

http://www.thewings.com.hk/html/

above the Tseung Kwan O (將軍澳）MTR station

bro... your conversion rate salah-lah... and market saying phase 2 is cheaper than first release... note that they had some conversion from "construction area/floor size" to "net use-able area/floor size" from 01 Jan 2013 onwards... new release also include car park....

[phantom_opera]

bro... your conversion rate salah-lah... and market saying phase 2 is cheaper than first release... note that they had some conversion from "construction area/floor size" to "net use-able area/floor size" from 01 Jan 2013 onwards... new release also include car park....

oh really? I got this info from property guru ... looks get conned

[ikan bilis]

http://the-sun.on.cc/cnt/finance/201...00434_001.html

we won't know what's happening unless we are physically inside hk....
i'm also feeling lucky me not born in hk... for that type of housing price....

[phantom_opera]

反映本港二手住宅樓價走勢的中原城市領先指數最新報115.93點，按周上升0.28%，距離歷史高位116.81點不足1點，中原認為，置安心首個屋苑綠悠雅苑推售反應佳，刺激私人住宅買家入市推高樓價。

各地區分析方面，新界西指數按周升0.43%，創97後新高，顯示用家需求增多，新界東指數更上升近1%，港島區就升0.27%，九龍區則無升跌。
中原說，今日公布的指數是根據本月7日至13日簽訂的正式買賣合約計算，施政報告後樓市的表現，將於下月上旬公佈的指數反映。

[ikan bilis]

public housing 40x over subscribed.... initially housing board expecting 10x only...

http://www.singpao.com/xw/gat/201301...18_414421.html

绿悠雅苑申请突破四万宗

2013-01-18 07:07:00　来源: 香港成报


　　【本报港闻组报道】本港楼价高企，而巿民对资助房屋项目需求殷切，有988个单位的青衣房屋协会「置安心」屋苑「绿悠雅苑」，今日截止申请，而巿民反应踊跃，申请宗数至昨日已突破4万宗，不少公屋住户以单身白表身份提出申请，房协主席邬满海认为这个情况值得关注，要研究会否影响公屋运用甚至出现宽敞户，故会将情况转告房屋委员会。
　　截至今日，房协收到的「绿悠雅苑」申请当中，26,400多宗属于个人申请，家庭申请则有13,600宗；而邬满海对于超过半数即2万多宗申请，是公屋住户以单身白表身份交表，认为值得研究会否影响公屋运用，并会将情况转达给房委会；有公屋团体则认为，现时缺乏诱因吸引公屋户置业并搬出单位以加强流转。
　　免补价二手居屋申请2.1万
　　「绿悠雅苑」以市价七折开售，以实用面积计算，整体平均呎价仅为6,510元，至于白表买家的入息、资产和转售限制与购买居屋相若，而是次申请人数，反映这类资助房屋项目甚受单身人士欢迎。
　　另外，5,000个白表资格人士免补价购买二手居屋，亦于今日截止申请，而截至昨日傍晚，房委会收到约21,500份申请，超额逾三倍，而当中约13,300份申请亦是来自单身人士。

[Laguna]

How to drop?
5年內推16萬公私營單位
施政報告指出，粗略估計，未來5內，本港可提供約16萬公私營房屋單位。


特首梁振英在首份施政報告中指出，住屋問題的核心是供應短缺。經過各部門的努力，政府已掌握的土地，可供2012-13年度起5年內落成約75,000個新公屋單位，及在2016-17年度起的4年內落成約17,000個新居屋單位。首批新居屋單位，預計可在明年預售。

另外，在私人住宅市場方面，在未來3至4年，一手市場預計可提供67,000個單位，包括建築中而尚未出售的單位、已落成但仍未售出的貨尾單位，以及於熟地項目上可隨時動工興建的單位。