Recently I was searching online about real estate investing and I found a website featuring Real Estate News. The site had information about mortgages, banking and finance, escrow/title insurance services, business resources, FED information and insurance. In addition, it has sections on investment properties and a variety of blog articles about real estate. The blog component of their site provides information about transactions that took place, mortgage fraud situations and news related to the current real estate market. Although most of their news is focused towards the United States, many of these can be applied to many countries. Not only because what happens in the United States impacts the whole world, the nature of globalization has created a new interconnection between our economies. By reading about the economy in the United States, one can also connect it with the situation in Hong Kong with a simple change of lens with respect to demographics. Since Hong Kong is a large city, we could compare its property market to that of New York City. Anyway, I highly suggest reading Real Estate News to help enhance your knowledge about the trends in the property market.
Archive for the ‘Property News’ Category
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Friday, July 31st, 2009Pacifica sold for HK$2,912 per square foot!
Friday, January 2nd, 2009Pacifica, is one of the tigers in the Four Asian Tigers of West Kowloon. Located in Cheung Sha Wan, the major commercial business district for trading companies, is a property developed jointly by Sun Hung Kai Properties and Cheung Kong (Holdings). A relatively new complex, the development has six towers with units ranging from 585 to 1,514 square feet. Due to the availability of low square footage units, low unit cost and management fees, Pacifica, along with the other three tigers are going to rebound quicker in this market downturn as they provide people with more affordable housing compared to the nearby area.
On the 23rd of December in 2008, there was a provisional contract that sold a unit in the Pacifica for under $3,000 per square foot, a new low in the area. The two-bedroom, 680 square feet, Flat H, 22nd Floor, Tower 1 of the Pacifica was sold for HK$ 1.98 million.
For more information about Pacifica, the Four Asian Tigers of West Kowloon or any other properties in Hong Kong, I would advise contacting an estate agent who can help you find your dream home.
The Long Beach…can be purchased at as low as HK$3.92M!
Monday, December 29th, 2008The Long Beach is an eight tower in the Olympic Station area of Hong Kong. Each tower consists of around 52 floors, ommiting various floors with the number 4, such as 4, 14, 24, 34 and 44. Developed by Hang Lung Properties, only three of the eight towers have been released. First sold in 2007, several key purchasers bought into the properties, focusing on tower five. Those key purchasers include Ms. Angela Leung (Stanley Ho’s fourth wife), Mirae Asset Management of Korea and one of TPG’s hedge funds. Due to the global credit crisis and the weakening credit crisis, units can be purchased at around HK$ 4 million for approximately 750 square feet. Recently, there has been a deal for a 2 bedroom unit at HK$3.92 million. For more information about the Long Beach and other properties in the West Kowloon area, please contact an estate agent or other professional who specializes in this area.