〈The Standard, April 6, 2024〉Major housing estates in Hong Kong saw turnarounds after 10 consecutive months of decline, with gains ranging from 0.46 to 4.77 percent within a month after the government removed restrictions.

Among 20 blue-chip housing estates, the valuation of 14 projects increased in March, three remained unchanged, and only three recorded slight decreases, according to data from a property valuation platform of Hang Seng Bank.

The 697-square-foot unit of Nan Fung Plaza in Tseung Kwan O had the largest monthly increase of about 4.77 percent to HK$7.03 million, ending its seven-month consecutive downward trend since August last year.

Following that, a 327-sq-ft middle-floor unit in Shatin City One was valued at HK$4.58 million, a 4.09 percent monthly growth, marking recovery for the first time since last October.

〈The Standard, April 6, 2024〉LOFTER Group (the Group) has achieved remarkable sales results in its latest real estate development, Elize PARK. The Group has witnessed an overwhelming response from buyers, with over 50% of the units being sold within a span of just one month after the Hong Kong government’s announcement to lift all cooling measures in stamp duty. Among the transactions made, the unit rate ranged from HK$22,125 to HK$29,025 per square foot, which outperformed other developments with similar offerings at the same time. The encouraging sales results came after the favourable government policy on stamp duty coupled with Elize PARK's market positioning and sales strategy.

〈Hong Kong Business, April 6, 2024〉The Housing Authority's Subsidized Housing Committee has approved the revised income and asset limits for applicants in the upcoming 2024-25 fiscal year.

The proposed changes, effective from 1 April, include freezing income limits for one-person and four-person households whilst increasing limits for households with two, three, or five or more members.

Current economic outlook and past practices in income limit reviews were amongst the factors considered in the adjustments.

〈Asian Post, April 6, 2024〉Locals frequently travelling northbound to spend in the GBA cities have dampened recovery in retail rent growth in Hong Kong.

Data from Cushman and Wakefield showed that high street rents across retail districts recorded mild growth in 1Q24, ranging from 0% to 1% QoQ.

In the F&B sector, rents experienced a softer growth, with Causeway Bay and Central F&B rents increasing 1% QoQ, whilst Tsimshatsui and Mongkok recorded a drop of 2% QoQ.

Whilst high street rental growth slowed, the high street vacancy rate largely stabilised in 1Q24 due to tourist spending.

〈Hong Kong Business, April 6, 2024〉A total of 9,820 residential units exchanged hands in the first quarter of 2024, up by 29% quarter-on-quarter (QoQ), data from Cushman & Wakefield showed.

Looking at March alone, residential transactions totalled more than 3,970 units, reflecting a month-on-month increase of 67%.

The report revealed that market sentiment improved following the government’s decision to fully withdraw all demand-side management cooling measures in the housing market on 28 February.