Latest news with #propertymarket
South China Morning Post
an hour ago
- Business
- South China Morning Post
Hong Kong home market on brink of turnaround, Morgan Stanley says
Hong Kong's residential property segment is on the verge of a turnaround that could last between four and five years, with home prices likely to rise starting in the second half of the year, according to Morgan Stanley. Advertisement The US investment bank said the first half of the year would end with prices down 2 per cent from a year earlier, while prices in the second half would rise 2 per cent year on year. The call essentially moves the recovery forward in time and smooths it out compared with the previous forecast, which called for a 5 per cent first-half decline followed by a 5 per cent second-half rise. This recovery was also likely to be sustained next year, said Praveen Choudhary, head of Hong Kong real estate research at Morgan Stanley and author of the report released on Friday. 'While we may be early, we see several reasons to be optimistic that we could be at the onset of an upcycle,' he said. The city's residential market had suffered through seven years of volatility, as prices hit a peak in July 2018, declined and then climbed back to another peak in September 2021, and since then have fallen nearly 30 per cent, according to official data. Advertisement 'The decline in prices is behind us, and from here on we expect positive price increases,' Choudhary said.
News.com.au
2 hours ago
- Business
- News.com.au
Houses for auction decrease as winter season emerges
REA Group Senior Economist Anne Flaherty discusses the property market and the auctioning happening this weekend. 'We have seen the number of homes coming up for auction decrease in line with winter,' Ms Flaherty said. 'We are around 10 per cent below the same levels we were seeing this time last year. 'We are still seeing very strong levels of buyer demand."
Entrepreneur
6 hours ago
- Business
- Entrepreneur
Thriving on Agility: Ali Al Gebely, Founder and Chairman, ONE Development
It took less than a month for ONE Development to sell out Phase 1 of its new Laguna Residence development. But for Ali Al Gebely, this is just the beginning. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Phase 1 of Laguna Residence sold out in less than a month after launch. Were you surprised by such a strong performance? The swift sell-out of Phase 1 of Laguna Residence in under a month was a significant milestone, yet it aligned with our expectations. This success underscores the trust and confidence that both local and international investors place in ONE Development's vision and execution capabilities. It reflects our strong understanding of the market dynamics and its readiness for innovative, AI-integrated living spaces. This achievement has encouraged our teams to deliver exceptional developments that meet and exceed our clients' evolving expectations. Can you expand on the new showroom in Abu Dhabi – the key features that make it such an important step forward? Our new showroom on Saadiyat Island represents a pivotal step in our expansion across the UAE. Strategically located in the capital Abu Dhabi's cultural and lifestyle hub, the showroom embodies ONE Development's commitment to innovation and personalised client experiences. The showroom is designed to provide an immersive experience, featuring advanced displays, carefully selected design elements, and interactive spaces. It serves as a gateway for clients to explore our unique approach to boutique real estate, allowing them to experience firsthand the quality and innovation characterising our projects. ONE Development is a newcomer to the property scene yet has managed to make a huge impact already. What are the reasons for this? ONE Development thrives on agility and a client-centric approach. Our focus is on delivering tailored, high-quality experiences that resonate with today's discerning residents. We differentiate ourselves in a competitive market by integrating advanced technologies and sustainable practices. Our developments, like Laguna Residence, exemplify this philosophy by blending innovative design, lifestyle amenities, and AI-powered solutions to create communities that foster connection, comfort, and a sense of home. How do you see the company evolve over the next five years, and what are the biggest obstacles you see to growth? Over the next five years, ONE Development aims to lead the transformation of community living by prioritizing connection, sustainability, and innovation. Our vision is to redefine the boutique real estate segment, setting new benchmarks for residential experiences through tech-driven, customer-centric design. This strategy is now extending beyond the UAE, marked by our recent international expansion with the launch of DO New Cairo in Egypt, and upcoming developments in Saudi Arabia and Europe by the end of the year laying the foundation for a truly global presence and a future shaped by visionary living. Laguna Residence is very well known for its integration of AI and other technological advancements. However, these industries are fast-moving. Do you have a vision for the type of home we will be living in ten years from now? Laguna Residence represents our vision for the future of living, where AI and technology seamlessly integrate into daily life. Through an innovative app, residents enjoy automated home management, personalised services, and intelligent facility control, all powered by AI. This ensures an efficient, smart, and connected lifestyle, elevating everyday living to new heights. Looking ahead, we envision homes that adapt to residents' needs in real time, utilising AI to enhance comfort, security, and sustainability. Our commitment is to continue pioneering advancements that redefine residential living, ensuring our communities remain at the forefront of innovation. Can you share how the concept of DO Hotels & Residences was born through your collaboration with the iconic Amr Diab? The idea was developed from a shared vision to create something that didn't exist—a hospitality experience that truly moves people. Amr Diab brought the soul: his global energy, passion for music, and timeless influence. We brought our expertise in designing spaces that inspire and connect. Together, we envisioned a new brand that blends music, wellness, and technology into an immersive lifestyle journey. This vision took shape with the launch of DO Dubai on Dubai Islands, followed by our first international debut with DO New Cairo in Egypt. By the end of the year, we are set to expand further into Riyadh and Greece, marking the beginning of a global footprint for DO Hotels & Residences. You will be aware of the record sales numbers for the Dubai property market in Q1 – what do you see as the reasons for this? Dubai's record Q1 property sales were driven by strong international investment, government visa reforms, limited supply in prime areas, and growing demand for branded, lifestyle-centric developments. Economic stability, population growth, and a global shift toward secure, high-yield assets further fueled momentum. ONE Development is well-positioned within this landscape, catering to demand for premium, design-led real estate in strategic locations. What were the key factors you believe in driving the sales for Laguna Residence? Laguna Residence's success stems from its pioneering AI integrated residential concept, the UAE's first of its kind, offering personalized, tech-enhanced living. It also features the region's largest sandy beach lagoon on a podium, framed by lush landscaping and panoramic skyline views—creating a resort like environment that appeals to modern urban buyers. The offering of diverse, meticulously designed units—from studios to Sky homes combined with over 40 world-class amenities, enhances its broad market appeal. Strong demand was further driven by a globally diversified investor base and strategic international partnerships. Related: How ONE Development Founder and Chairman Ali Al Gebely Took The Dubai Real Estate Market By Storm
Bloomberg
6 hours ago
- Business
- Bloomberg
Morgan Stanley Says Hong Kong's Housing Sector Is Bottoming Out
Hong Kong's residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a report dated June 19.
Bloomberg
7 hours ago
- Business
- Bloomberg
Hong Kong Developer Sells $69 Million Luxury House at a Loss
Hong Kong developer Chuang's Consortium International Ltd. is selling a luxury mansion in the upscale Deep Water Bay area at an almost 20% discount, as it seeks cash in a fragile property market. The house at 37 Island Road is being sold to Annex W Group Ltd., a British Virgin Islands vehicle owned by Wu Jingtao, for no more than HK$538 million ($69 million), according to a filing to the Hong Kong stock exchange late Thursday.
