Hong Kong
1. Hong Kong's home market may see "another good year" this year, as buyers remain financially sound, according to Sun Hung Kai Properties. "We don't see any bubbles in the market," said Victor Lui Ting, an executive director of the firm's real estate agency unit. (SCMP).
2. Buyers are snapping up luxury homes before higher stamp duties come into force next month. Cheung Kong (Holdings) sold 53 of the 56 houses at its La Mer development in Tung Chung in just two days. There were few large single transactions, but two buyers spent HK$51 million and HK$43 million for two adjacent houses. Henderson Land took HK$600 million from 30 homes since launching Hill Paramount in Sha Tin on Saturday. Prices reached up to HK$12,500 per square foot and averaged HK$11,000 psf, sales general manager Thomas Lam Tat-man said. Soundwill Holdings sold 140 homes, or 85 percent of all units, at Warrenwoods in Tai Hang within three days. The developer reaped over HK$1 billion with flats on top floors going for as much as HK$21,000 psf. (The Standard).
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