Latest news with #HongKongProperty
South China Morning Post
09-07-2025
- Business
- South China Morning Post
Hong Kong home sales surge among lower-priced units thanks to stamp-duty adjustment
Hong Kong's residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last year, according to data disclosed by the government on Wednesday. The surge in activity came after the government adjusted stamp duty bands on February 26 to ease the burden on buyers of lower-valued properties. The maximum value of properties eligible for a flat HK$100 stamp duty was raised to HK$4 million from HK$3 million, helping buyers save up to HK$59,000. The fresh figures reinforced a broader improvement in Hong Kong's housing market. Residential transactions in June climbed to a seven-month high of 5,955 units, up 16.7 per cent from May, according to the Land Registry. It also marked the fourth consecutive month in which sales exceeded 5,000 units, a streak last seen before the 2021 market downturn. 'The fact that positive performance has continued this year, despite the absence of significant stimulus, indicates a more resilient and fundamentally sound housing market,' said Eddie Kwok, executive director at CBRE, in a research note on Thursday. In the first half of 2025, residential transactions rose 4.2 per cent year on year to 28,947 units, with about two-thirds coming from the secondary market, according to data compiled by property consultancy CBRE.
Bloomberg
30-06-2025
- Business
- Bloomberg
Why Property Giant New World Isn't Out Of the Woods Despite Whopper Deal
Beleaguered Hong Kong property developer New World secured a HK$88.2 billion ($11.2 billion) loan on June 30, in an eleventh-hour deal that will have bankers across the city breathing a collective sigh of relief. Once among the most deep-pocketed property giants in the city,New World has faced mounting financial pressure over the past couple of years. The developer reported its first loss in two decades in the 2024 financial year. At the end of last year its net debt reached 96% of shareholder equity, according to Bloomberg Intelligence, making it one of the most leveraged developers in Hong Kong. As of early June, the company's shares had slumped more than 90% from their peak in 2019.
Yahoo
21-06-2025
- Business
- Yahoo
Henderson Land upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley upgraded Henderson Land (HLDCY) to Overweight from Equal Weight with a price target of HK$31, up from HK$26.50, as the firm refreshed its ratings and preferences among its Hong Kong property coverage. Hong Kong property prices are down 30% since their peak five years ago and the firm sees several drivers pointing towards a bottoming, says the analyst, who argues investors 'could benefit from a long steady cycle ahead.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Sino Land downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Praveen Choudhary downgraded Sino Land (SNLAY) to Equal Weight from Overweight with a price target of HK$8.60, down from HK$9, as the firm refreshed its ratings and preferences among its Hong Kong property coverage. Hong Kong property prices are down 30% since their peak five years ago and the firm sees several drivers pointing towards a bottoming, says the analyst, who argues investors 'could benefit from a long steady cycle ahead.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Disclaimer & DisclosureReport an Issue Sign in to access your portfolio
Reuters
02-06-2025
- Business
- Reuters
New World Development drops after company to defer coupon payments
HONG KONG, June 2 (Reuters) - Shares of New World Development ( opens new tab dropped as much as 9.8% after the Hong Kong property developer said it would defer coupon payments scheduled for June on perpetual bonds, casting further liquidity concerns for the cash-strapped firm. The shares fell to HK$4.32 ($0.5508) each, their lowest since April 9. That compared to a 1.9% fall in benchmark Hang Seng Index. (.HIS), opens new tab ($1 = 7.8428 Hong Kong dollars)
