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HOME&PROPERTY
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Aug-Sep15
Market Update
Hot Properties
Letizia Casalino,
Hong Kong Sotheby’s
International Realty
A
re prices softening? Are owners more
flexible? Yes and no, but unfortunately
it’s more of a no. Although the media
continues to tease us all with the suggestion
of a downward price shift, the lack of available
stock currently on the market remains a reality
and is consistently outweighed by demand in
the hot spots of Hong Kong.
As a result, prices are inflating by 5 to 10
percent in the mass rental market. The luxury
tier is where negotiation is slightly more flexible,
however, even there the lack of premium stock
encourages owners of rare and exclusive
properties to maintain their luxury prices. The
peak season has come to an end and so the
diamonds are harder and harder to find.
The first-hand property market is still the talk
of the town, with new developments popping up
in great quantities on the Kowloon peninsula.
Compared to the same period last year, however,
the number of sales figures have decreased.
The secondary market has seen a few strong
weeks as investors fromHong Kong and abroad
have taken the end-of-season opportunity to
purchase a home or investment property. Now
that the effects of the cooling measures are
well understood throughout the market, the
momentum of investing is back on track.
This apartment features a spacious L-shaped living and
dining room, big master bedroom that leads to a walk-in-
closet, and bathrooms with granite and marble finishes.
PRESTIGIOUS APARTMENT
District: Mid-levels Central
Rental Price: $95K
Size: 1,524 sq. ft
Bedrooms: 3 (1 ensuite)
Bathrooms: 2