〈The Standard, June 10, 2022〉A property agency that sublets homes to at least 200 mainland students is under a police investigation for suspected fraud involving more than HK$10 million.

Further, a rental service involved in the case discovered it can no longer contact the person in charge of the agency.

Indeed, the agency had not paid rent since March after charging students a year's rent in advance.Officers have opened an investigation on suspicion of fraud and arrested four people.

〈The Standard, June 9, 2022〉Centaline Property Agency founder Shih Wing Ching said he heard some banks are planning to raise the capped rate of the Hibor-based mortgage loan plan.

This would place additional financial pressure on borrowers.

Meanwhile, some banks are said to have increased the cash rebate for mortgage loans of over HK$10 million in a bid to draw more customers before the city follows the US interest rate hikes.

Among new projects, Henderson Land Development (0012) has released the sales brochure for The Baker Circle Dover in Hung Hom and will unveil the first price list of 65 units - mostly with one bedroom - today.

〈China Daily, June 8, 2022〉As the epidemic continues to stabilize in Hong Kong, overall property market sentiment has improved, leading to a rise in bank valuations of units at some housing estates.

Of the 20 major housing estates, nine - mainly the top 10 blue-chip estates - saw their unit valuations increase month on month by between 0.47 and 5.77 percent last month.

Industry insiders reckon the increases mainly reflected the transaction situation in the first half of last month, which was on an upward trajectory, and the sector will continue to show that trend in prices and volumes continue in the future.

Of the estates, Tsuen Wan Centre recorded the largest growth in valuations, with a 377-square-foot home given a value of HK$4.95 million last month, which was a 5.77 percent increase compared to the April figure of HK$4.68 million.

〈Asian Post, June 7, 2022〉The Lands Department will resume the development of 30 private lots in Fanling and Yuen Long for its subsidised housing projects.

Housing projects in the two locations will provide a total of about 1,660 residential units.

The lots, with a total area of about 1.12 hectares, are located at San Wan Road near Wong Kong Shan in Fanling, Shap Pat Heung Road near Lung Tin Tsuen in Yuen Long, and the junction of Yuen Lung Street and Yau Tin East Road in Yuen Long.

〈Asian Post, June 6, 2022〉Hong Kong remains to be the most expensive location in the world, the latest Cost of Living Ranking by ECA International showed.

According to the information provider, higher prices and a stronger currency over the past year have allowed the city to continue its reign in the rankings.

“Year on year price rises of 3%, as measured by our basket of goods and services, are higher than we typically see in Hong Kong, but are lower than rates in similar cities both within the region and globally,” said Lee Quane, Regional Director – Asia at ECA International.

“Rather, it has been the strength of the Hong Kong dollar, which is pegged to the US dollar, in the past year which has enabled it to maintain its position as the most expensive location worldwide as other currencies have weakened,” added Lee.