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Market Chatter: Hong Kong Real Estate Developers Continue Sweetening Price Offerings to Drive Sales
Real estate developers in Hong Kong choose to continue sweetening their pricing to clear their excess inventory as interest rate reductions and a robust economic recovery continue to dampen demand, the South China Morning Post reported, citing analysts.
According to Zhongzhi Research Institute, the merger and acquisition activity in the real estate industry continued to increase in June.
According to Zhongzhi Research Institute monitoring, there were 17 merger and acquisition trades in the real estate industry in June 2024, an increase of 2 compared to the previous month.
Hong Kong property stocks surged in early trading as the Hong Kong property market is recovering in the first half of the year. The probability of a rate cut by the Federal Reserve in September has risen to a high level.
Hong Kong property stocks are generally up. As of press time, Wharf Real Estate Investment Company Limited (01997) rose 4.62%, reporting at HKD 21.5 per share; Hang Lung Properties Limited (00101) rose 4.33%, reporting at HKD 6.98 per share; CK Asset Holdings Limited (01113) rose 3.83%, reporting at HKD 31.2 per share.
Hang Lung Properties Limited's (HKG:101) Largest Shareholders Are Public Companies With 63% Ownership, Individual Investors Own 23%
Key Insights Hang Lung Properties' significant public companies ownership suggests that the key decisions are influenced by shareholders from the larger public Hang Lung Group Limited owns 63% of
Hong Kong's Distressed Commercial Real Estate Sales Soar in H1
Distressed commercial real estate sales in Hong Kong surged in the first half to comprise 73% of the total volume, the South China Morning Post reported Tuesday, citing real estate firm CBRE.
Market Chatter: Hong Kong Office Vacancy Rate Hits New High in June
Hong Kong's office vacancy rate hit a new high of about 17% in the second quarter, with 15 million square feet vacant, The Standard reported Tuesday, citing CBRE.
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