Redhill Peninsula Phase 1Stanley
HK$ 39MHK$ 40M
GFA 2,153'[Unverified]SFA 1,575'[Not Verified]
Holland GardenHappy Valley
HK$ 23.8MHK$ 25M
GFA 1,506'[Unverified]SFA 994'[Not Verified]
The BeachsideRepulse Bay
HK$ 34M
GFA 1,161'[Unverified]SFA 887'[Not Verified]
Bisney TerracePok Fu Lam
HK$ 19.2MHK$ 19.8M
GFA 1,129'[Unverified]SFA 864'[Not Verified]
Sorrento Phase 1 Block 5West Kowloon
HK$ 23.5M
GFA 836'[Unverified]SFA 632'[Not Verified]
The MasterpieceTsim Sha Tsui
HK$ 60MHK$ 70M
SFA 1,466'
Tower 8 Island HarbourviewTai Kok Tsui
HK$ 15.52MHK$ 15.22M
GFA 1,052'[Unverified]SFA 786'[Not Verified]
Tower 7 One SilverseaTai Kok Tsui
HK$ 25MHK$ 26M
SFA 956'
The GivernySai Kung
HK$ 38MHK$ 39M
SFA 2,057'
Fullway GardenClear Water Bay
HK$ 28M
GFA 1,452'[Unverified]SFA 1,449'[Not Verified]
Block 7 Casa BellaClear Water Bay
HK$ 13.68MHK$ 18M
GFA 865'SFA 686'[Not Verified]
Sea View VillaSai Kung
HK$ 36.8M
GFA 2,000'[Unverified]SFA 1,519'[Not Verified]
Phase 1 Headland Village, 103 Headland DriveDiscovery Bay
HK$ 52M
GFA 2,099'[Unverified]SFA 2,094'[Not Verified]
Discovery Bay, Phase 3 Parkvale Village, Woodbury CourtDiscovery Bay
HK$ 9.99M
GFA 1,134'[Unverified]SFA 980'[Not Verified]
Discovery Bay, Phase 2 Midvale Village, Island View (Block H2)Discovery Bay
HK$ 10.74MHK$ 10.54M
GFA 1,412'[Unverified]SFA 1,157'[Not Verified]
Phase 1 Beach Village, 17 Seabird LaneDiscovery Bay
HK$ 18.8MHK$ 19.3M
GFA 1,357'SFA 1,282'[Not Verified]
Wai Ching CourtJordan
HK$ 4.8M
GFA 408'SFA 312'
Nelson CourtMong Kok
HK$ 14.56MHK$ 14.86M
GFA 1,088'SFA 812'
Phoenix ApartmentsCauseway Bay
HK$ 20M
GFA 2,100'[Unverified]SFA 1,604'
Mei Shing MansionShek Tong Tsui
HK$ 3.8M
SFA 297'
Crescent HeightsStubbs Roads
HK$ 17.8MHK$ 15.3M
SFA 955'
Tower 3 The Pavilia HillTin Hau
HK$ 28MHK$ 26M
GFA 1,217'SFA 913'[Not Verified]
ArezzoMid Levels West
HK$ 25.9MHK$ 25M
SFA 970'
Phase 6 Residence Bel-AirCyberport
HK$ 42.8MHK$ 41.8M
SFA 1,352'
Scholastic GardenMid Levels West
HK$ 14.5MHK$ 12.5M
SFA 661'
Hillsborough CourtCentral Mid Levels
HK$ 16.5MHK$ 16M
GFA 821'[Unverified]SFA 646'[Not Verified]
Gardenview HeightsTai Hang
HK$ 27.5MHK$ 26.5M
SFA 1,049'
Belcher's HillKennedy Town
HK$ 19.7MHK$ 19.5M
GFA 973'SFA 718'[Not Verified]
The BeachsideRepulse Bay
HK$ 34M
GFA 1,161'[Unverified]SFA 887'[Not Verified]
Bisney TerracePok Fu Lam
HK$ 19.2MHK$ 19.8M
GFA 1,129'[Unverified]SFA 864'[Not Verified]
Block A-C Beach PointeStanley
HK$ 36MHK$ 43M
GFA 1,700'[Unverified]SFA 1,461'[Not Verified]
RosecliffStanley
HK$ 178MHK$ 168M
GFA 3,980'SFA 3,209'[Not Verified]
Jardine's Lookout Garden Mansion Block BHappy Valley
HK$ 59.9MHK$ 63.8M
GFA 2,300'[Unverified]SFA 1,897'[Not Verified]
Notting HillStubbs Roads
HK$ 7.6MHK$ 8M
SFA 544'
Centre PlaceSai Ying Pun
HK$ 11MHK$ 12M
GFA 615'SFA 451'[Not Verified]
CentrestageSoho
HK$ 36MHK$ 40M
SFA 1,325'
Residential Properties / Flats / Apartments Rental & Sales in Hong Kong
Hong Kong (SAR) is guaranteed to feature in discussions amongst the property developer and investor communities all around the world. For one, it's very well known for its small handful of ultra-rich property moguls - a select few that have virtually dominated most of the former British colony. But Hong Kong also has some of the most talked-about real estate in the world; ranging from its public and private residential housing estates, industrial parks, commercial & office buildings to its high-end luxury retail precincts in sought after shopping areas. Perhaps the most talked-about is the topic of Hong Kong's housing affordability.
For several years now, Hong Kong has consistently been ranked as the most expensive property market in the world. There are a number of factors that have contributed to this somewhat contentious title, but very generally, it is due to supply and demand. Geography has some, albeit small, part to play in this; with over 700 mountainous islands, developing land with infrastructure can understandably be both challenging and expensive. Another small, but noteworthy contributing factor affecting the supply and demand equation is Hong Kong's popularity - Hong Kong is one of the most densely populated regions of the world with a population of approximately 7.5 million (and growing). That's over 7,100 people per square kilometre of inhabitable space. Of the already existing developed areas, many parts of Hong Kong are overflowing.
What makes Hong Kong so popular to live and work? Not only is Hong Kong a financial mega-hub, but it has a temperate climate, a decent quality of life with good healthcare and education. It's also positioned, geographically, as a favourable access point into the world's most populated country; the People's Republic of China. However, a major factor influencing supply and demand (and therefore property prices) comes down to Hong Kong's very low income and corporate taxes - but more precisely - the method of selling land to developers that the Government deploys in order to offer these attractive low tax rates.
Hong Kong's undeveloped land is 100% owned by the Hong Kong Government. It's not put up for sale very often, but even when it is, the Government then controls the process whereby contracts to develop the land are given to the 'highest-bidder-wins' property developers via a tender process that goes on behind the scenes - usually for eye-watering sums. Increasingly, more of the developers winning the contracts to develop land in Hong Kong are coming from Mainland China. After the land & real estate has been developed, individual property titles are then typically on-sold to anyone who can afford to pay the ever-increasing prices the market demands (again, many buyers are rich Mainland Chinese property investors). This is, by and large, one of the main ways the Hong Kong Government is able to keep its income and corporate taxes so low since a large chunk of the Hong Kong Government's revenues come from these lucrative land sales to big-time property developers. Some people argue that this process creates no incentive for the Government to curb escalating housing prices and for many of these reasons the Government may continue to struggle to create a home-owning society for everyone in the near future.
That being said, the Government maintains that it is continuously looking for new ways to change this. It currently owns about half of all residential property in the way of public housing estates. It is also trialling different ways to make homeownership more affordable for lower socioeconomic families through assisted Home Ownership Purchase Programs and other rent-to-buy housing schemes. Other Government-lead market-cooling interventions introduced in the past have included raising transaction taxes and stamp duty. However, it's been argued that these have had mixed results. While some still worry that Hong Kong's real estate market will forever be beyond their reach, astronomically-high property prices are rarely sustainable in the long term. The number, scale, form, and the rate of real estate projects that dictate property prices can easily be influenced by constant fluxes in an economy (both local and global) including government regulations and policies (either locally administered or foreign). Whether it's by way of government intervention or not, or market changes that are foreseeable or unforeseeable, changes can and will eventually occur - and if history is anything to go by, we know that change is the only constant. Few people need reminding that Hong Kong's seemingly relentless real estate market can be brought to its knees in devastating ways, as it has been in the past; being hit in 1997 (Asian financial crisis), 2003 (SARS epidemic), and in 2008 (Global Financial Crisis).
Despite these market knockbacks, the planning of new property-development projects, of varying sizes, will never cease to continue all throughout Hong Kong. As well as new public and private housing estates, new science and technology parks and other 'innovation hubs' that are under construction, Hong Kong is currently undergoing some large-scale, cross-boundary infrastructure projects. Take, for example, the Hong Kong-Zhuhai-Macao Bridge and the Guangzhou-Shenzhen-Hong Kong Express Rail Link. These are just two examples of significant investment in areas that are poised to benefit economically from cross-border transport infrastructure by way of increased international traffic flows to, and from, Hong Kong, Shenzhen, Macau and Zhuhai. It will no doubt provide a powerful stimulus to the residential, commercial, industrial and retail property markets as well.
Whichever way you choose to look at the current and future state of the Hong Kong property market, it's bound to generate interesting discussions and debate.