〈The Standard, March 29, 2024〉The bank of China (Hong Kong) gave lower valuations last month for 19 of 27 housing estates tracked, skyrocketing from just one a month ago.

And those lower valuations were holding for at least four estates late this month even after property curbs were eased in the February 28 budget.

The valuation falls in the 19 estates ranged from 0.96 to 6.02 percent.

In one instance, the valuation for a 582-square-foot, one-bedroom flat in Luk Yeung Sun Chuen dropped by HK$430,000 to HK$6.71 million.

〈The Standard, March 28, 2024〉Elize PARK, a brand-new boutique residential development constructed by Lofter Group in Mong Kok East, has recorded the first transaction of a featured unit for 6.3855 million. The unit's price per square foot of usable area has reached a new high of around 29,025.

The unit features a 66-foot platform and a 220-square-foot usable area. Uma Lau, District Manager of Midland Realty Olympic Station Branch, stated that the branch helped sell the first featured unit yesterday. "The podium units' outdoor space with its peaceful, open green surroundings is a big hit with buyers."

〈Asian Post, March 27, 2024〉First hand sales across Hong Kong’s retail sector amounted to above $10b in the first week and have maintained this level by the second week since policy relaxation, according to Jefferies Equity Research.

According to the report, the launch of Seasons Place with its first batch of 368 units at 100% sell-through, equivalent to $2.4b contracted sales, sets the sector’s strong momentum to come.

〈Hong Kong Business, March 26, 2024〉CK Asset Holdings Ltd. saw its EBITDA in 2023 decline by 24% due to reduced property development bookings, however, the company's debt-to-EBITDA ratio of 2.8x remained comfortably below the downside trigger of 3.5x, despite a 47% increase in adjusted debt from acquisitions, S&P Global Ratings said.

The property development segment, which contributed 27% to adjusted EBITDA in 2023, is expected to face ongoing challenges in the coming year. With a 49% drop in revenue in 2023, further decline is anticipated for 2024 due to fewer projects slated for delivery.

Despite this, contracted property sales totalling $19.4b at the end of 2023, with an expected recognition of $7b in 2024, provide a promising outlook, the report noted.

〈CNN News, March 29, 2024〉The latest US inflation report showed that rising prices continue to weigh on American consumers.

The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures price index, was up 2.5% for the 12 months that ended in February, a faster pace than January's 2.4% rise in prices. However, it was in line with FactSet consensus estimates.

Driving the increase in the annual inflation rate was a 2.3% jump last month in energy prices.