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Mortgage loans account for 25-30% of bank loans in Hong Kong. [1] Land ownership and land restrictions by the government risk inefficiencies with housing supply and demand. In 1998 there was a property price collapse; from 1997 to 2003 Hong Kong residential property prices fell by 61% [5] following the Asian economic crisis.
HK$2.5b 10,000 250,000 Joseph Lau Luen-hung's residence 270-degree harbour view [48] 2 75 Deep Water Bay Road 深水灣道 HK$3.3b 13,800 240,000 Sold by Pu Sutong in 2021 for HK$3.3b Ocean, golf course view [49] 3 1 Peak Road 山頂道 HK$2.1b 9,000 230,000 Sold by Jin Yong. in 1996 for HK$1.96m who bought in 1985 for HK$ 12.5m Above Wan Chai ...
A CBRE report from 2019 lists Hong Kong as having the highest average property price in the world. [20] As of June 2021, an average 500 sqft apartment cost HK$9.44 million in Hong Kong Island, HK$8.32 million in Kowloon, and HK$7 million in New Territories; an average family would have to save for about 20.7 years to pay for such a unit. [21]
Private housing estate is a term used in Hong Kong for private mass housing—a housing estate built by a private developer, as opposed to a public housing estate built by the Hong Kong Housing Authority or the Hong Kong Housing Society. It is usually characterised by a cluster of high-rise buildings, with its own market or shopping mall.
Since the British colonisation of Hong Kong in 1841 after the First Opium War, Hong Kong has grown from a stony outcrop on the southern coast of China to a territory whose property prices are among the highest in the world. [1] The territory has a land mass of 1,111 km 2 (429 sq mi).
The Real Estate Developers Association of Hong Kong (REDA; Chinese: 香港地產建設商會) is a business organization representing the property development industry in Hong Kong. It was established in 1965 under the chairmanship of Henry Fok. The association's members included the 17 major developers in Hong Kong. [1]
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The Hong Kong Economic Times (abbreviated as the HKET) is a financial daily newspaper in Hong Kong. It was founded by Lawrence S P Fung (Chinese: 馮紹波; Chairman), Perry Mak (Managing Director), Arthur Shek Kang-chuen (石鏡泉; Executive Director) and others. It started with a HK$20 million investment in 1988.