Everything about Landscope Christie's International Real Estate and the Hong Kong luxury property market
Despite the governmentâ€™s dampening measures over the overheated property market in the Mainland, prices have continued to surge. Record high land prices and house prices have emerged in major cities, fuelled by an even greater demand. This, and the chronic discontent with the stratospheric prices, has prompted the State Council to take stricter steps to cool down the rampant market, elevating mortgage rates and down-payment requirements to dampen demand. On the supply side, The Ministry of Land and Resources of China has announced that it will increase land supply by 135 percent to 180,000 hectares this year.
Landscope Realty today announces a series of staff promotions of its well experienced sales teams.
It is no coincidence that the Chinese and Hong Kong government are exerting more influence on their respective property markets. The Chinese government has successfully bailed Chinaâ€™s economy out of a short-lived recession following the global financial tsunami in 2008, thanks to the pumping of trillions of new capital into the economy since early 2009. A good portion of this new money found its way into the equity and property markets, with records of phenomenal growth results throughout 2009 across both markets. The spill-over effect is prominent in Hong Kong, as many savvy mainland investors wired funds across the border into Hong Kongâ€™s stock and property market.
The hilly geography of Hong Kong has provided many buildings with fantastic views, unlike many other cities, which are built on plains. But the flipside is a hillside slope can be dangerous if not properly fortified and maintained.