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Hong Kong Homebuyers Flock to New Projects, Shunning Used Flats
Hong Kong homebuyers are snapping up new properties after the government cut taxes last month.
Zhongyuan Real Estate: The Hong Kong property market is expected to reach 5,000 first-hand transactions in March and is expected to recover a 15% decline by the end of the year
The property market clearly regained prosperity in March. In March, the Hong Kong property price index will reflect the new situation in the property market after the withdrawal. The index is expected to stop falling and stabilize, or even rise slightly.
Shun Tak Group (00242.HK): Net loss of HK$677 million in 2023
Glonghui March 26 | Shun Tak Group (00242.HK) announced that for the year ended December 31, 2023, revenue was approximately HK$4,068 billion, up 16.5% year on year; the consolidated loss attributable to company owners for the year was HK$677 million (2022: HK$558 million). The relevant loss attributable to owners (mainly adjusted for unrealized fair value changes arising from investment properties) will be HK$209 million (2022: HK$102 million). Basic loss per share was HK22.4 cents (2022: HK18.5 cents).
SHUN TAK HOLD: 2023 ANNUAL RESULTS ANNOUNCEMENT
Knight Frank: Maintaining an L-shaped forecast for property prices in Hong Kong this year, it is expected to drop by up to 5%
Maintaining the original L-shaped forecast for this year's property price trend, there is still an opportunity for property prices to fall by 3% to 5% in the first half of the year, stabilized slightly in the second half of the year, and is expected to remain flat or fall by up to 5% throughout the year.
American League: It is expected that the turnover of commercial stores in Hong Kong will rise by 20% year-on-year this year, and prices are still under pressure
Recently, the Hong Kong Government introduced a number of favorable policies to promote the development of the real estate industry
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