Hong Kong developers have best day since May as 200 flats snapped up on rate cut
==========
On 28 September 2024, Hong Kong experienced its highest single-day flat sales since May, with 200 units sold following a half-point interest rate cut by the Hong Kong Monetary Authority (HKMA). Sun Hung Kai Properties (SHKP) sold 115 of 120 units at Yoho Hub II in Yuen Long, while Emperor International sold all 85 units at One Jardine’s Lookout in Happy Valley. The HKMA's rate cut, the first in four years, aligns with the US Federal Reserve's actions. The mortgage rate for a HK$5 million loan dropped to 3.875%, reducing monthly payments by HK$720. The Hang Seng Index rose 3.6% to 20,632.30, marking its best week since October 1998. SHKP's units were priced at an average of HK$14,338 per square foot, while One Jardine’s Lookout's units averaged HK$17,904 per square foot. Investors accounted for 40% of interest in One Jardine’s Lookout, with expectations of 600 new home sales in September.
#HongKong #RealEstate #InterestRates #PropertySales #MarketSentiment #SunHungKaiProperties #EmperorInternational #HangSengIndex #MortgageRates #Investors
https://www.scmp.com/business/article/3280360/hong-kong-buyers-snap-200-flats-market-sentiment-improves-interest-rate-cut?module=Hong%20Kong&pgtype=section
South China Morning Post /
npub1x2…knuvq
2024-09-28 10:00:12
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-09-28 10:00:12Event JSON
{
"id": "43ad9a573728dc6029ae23cf9ffe74baa5477e83fdee175399650e0b4d4df7dc",
"pubkey": "3280f379d4580cf346455b596603795f46119fa6b8640f01d431878241ae58c5",
"created_at": 1727517612,
"kind": 1,
"tags": [],
"content": "Hong Kong developers have best day since May as 200 flats snapped up on rate cut\n==========\n\nOn 28 September 2024, Hong Kong experienced its highest single-day flat sales since May, with 200 units sold following a half-point interest rate cut by the Hong Kong Monetary Authority (HKMA). Sun Hung Kai Properties (SHKP) sold 115 of 120 units at Yoho Hub II in Yuen Long, while Emperor International sold all 85 units at One Jardine’s Lookout in Happy Valley. The HKMA's rate cut, the first in four years, aligns with the US Federal Reserve's actions. The mortgage rate for a HK$5 million loan dropped to 3.875%, reducing monthly payments by HK$720. The Hang Seng Index rose 3.6% to 20,632.30, marking its best week since October 1998. SHKP's units were priced at an average of HK$14,338 per square foot, while One Jardine’s Lookout's units averaged HK$17,904 per square foot. Investors accounted for 40% of interest in One Jardine’s Lookout, with expectations of 600 new home sales in September.\n\n#HongKong #RealEstate #InterestRates #PropertySales #MarketSentiment #SunHungKaiProperties #EmperorInternational #HangSengIndex #MortgageRates #Investors\n\nhttps://www.scmp.com/business/article/3280360/hong-kong-buyers-snap-200-flats-market-sentiment-improves-interest-rate-cut?module=Hong%20Kong\u0026pgtype=section",
"sig": "f6d9a89ce4bf0ef1010774634f0865c1f2d407fdebc34f5a638296e2b76959b8d20c631729997de8ad3a4a5d9316a80acaa26ac56b4f316be862756ad496e455"
}