Hong Kong Property Market Still Shines With Resilience
Top-notch facilities and amenities found in two of Hong Kong's most prestigious luxury residences.
The post Hong Kong Property Market Still Shines With Resilience appeared first on LUXUO.
The city of Hong Kong is home to some of the most expensive real estate in the world, and the city’s real estate market has long been noted for its excessive prices. The market has, however, faced a few difficulties recently, including the global pandemic and governmental cooling measures. Despite these difficulties, high-end houses in Hong Kong continue to draw buyers, supporting the market’s resilience.
The vibrant city of Hong Kong where property prices stay resilient. Image: China Guide Travel.
The rising desire for larger residences is one of the most prominent trends in Hong Kong’s luxury real estate market. Demand for homes with extra space, including home offices, gyms, and outdoor spaces, has increased because of the pandemic. According to data from Savills Hong Kong, the average size of luxury properties sold in the first quarter of 2023 was 2,200 square feet, up from 2,100 square feet at the same time last year. This tendency is reflected in the trend. As buyers place greater importance on space and amenities when looking for a home, this tendency is predicted to persist.
In the fourth quarter of 2022, prices in Hong Kong’s luxury real estate market rose 1.4 percent over the same period the year prior, according to Knight Frank Hong Kong’s Pr...
The post Hong Kong Property Market Still Shines With Resilience appeared first on LUXUO.
The city of Hong Kong is home to some of the most expensive real estate in the world, and the city’s real estate market has long been noted for its excessive prices. The market has, however, faced a few difficulties recently, including the global pandemic and governmental cooling measures. Despite these difficulties, high-end houses in Hong Kong continue to draw buyers, supporting the market’s resilience.
The vibrant city of Hong Kong where property prices stay resilient. Image: China Guide Travel.
The rising desire for larger residences is one of the most prominent trends in Hong Kong’s luxury real estate market. Demand for homes with extra space, including home offices, gyms, and outdoor spaces, has increased because of the pandemic. According to data from Savills Hong Kong, the average size of luxury properties sold in the first quarter of 2023 was 2,200 square feet, up from 2,100 square feet at the same time last year. This tendency is reflected in the trend. As buyers place greater importance on space and amenities when looking for a home, this tendency is predicted to persist.
In the fourth quarter of 2022, prices in Hong Kong’s luxury real estate market rose 1.4 percent over the same period the year prior, according to Knight Frank Hong Kong’s Pr...
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