〈The Standard, Oct 29, 2022〉After there was no great relaxation measures for the property market in the policy address, the interest rate increases are continuing to make home buyers flinch and choose to rent instead.

And many owners have turned to leasing out their flats rather than selling them.

A total of 67 units were rented out in Taikoo Shing, Quarry Bay, in September, four times the number of sales, while rental transactions in City One Shatin were 34 percent higher than sales.

A middle-level flat in The Palazzo, Fo Tan, was recently rented out for HK$27,000 a month. It is reported that the tenant originally planned to buy a unit, but decided to rent first due to market conditions.

〈Hong Kong Business, Oct 28, 2022〉The government has eased three measures related to catering business and scheduled premises.

From 3 November, the restriction on the operating and dine-in hours for catering business premises and scheduled premises under the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation will be lifted.

Patrons will also be allowed not to wear their masks during photo-taking on stage at events held at catering business premises, premises where events are held, and other scheduled premises. Mask-wearing, however, will still be required to other parts of the premises and during time apart from photo-taking.

〈Hong Kong Business, Oct 28, 2022〉Flexible office spaces are gaining traction in Hong Kong, continuing their expansion across core business locations and being a major driver of the office leasing market in September, according to the latest report by JLL.

"In the face of global economic uncertainties and hybrid work becoming more popular, some tenants are turning to spaces that offer more flexibility. This has supported the expansion of flexible offices in the city,” said Alex Barnes, managing director at JLL in Hong Kong.

With the shift from traditional offices to hybrid work, companies need to rethink the design of their offices to accommodate the changing needs, Barnes noted.

〈Asian Post, Oct 27, 2022〉Henderson Land has signed a strategic partnership agreement with China Resources Land Limited (CR Land) to develop projects in mainland China and Hong Kong.

“The signing of this Strategic Partnership Agreement is going to allow both parties to play to their unique strengths and create a win-win, mutually beneficial relationship,” Peter Lee Ka-kit, Chairman of Henderson Land Group, said.

Li Xin, Chairman of the Board of CR Land added the partnership will boost collaboration in the Northern Metropolis and the integration of the Greater Bay Area.

〈Asian Post, Oct 26, 2022〉Home prices in Hong Kong are expected to consolidate further as mortgage rates rise and the demand for new primary, second homes remains sluggish.

Prices have reportedly declined by about 8% year-to-date, according to DBS’ latest Hong Kong Property Sector Outlook report.

Developers in the city are expected to retain their conservative pricing strategy moving forward, said Jeff Yau, Hong Kong property sector analyst, group research, for DBS Hong Kong. The upward pressure from banks raising their mortgage rate caps and prime rates is also expected to damplen market sentiment.