No. of view: 1032
Property News Weekly Digest
2022/11/5
〈The Standard, Nov 5, 2022〉UK fund manager Man Group Plc sees ample opportunities to generate strong returns from investments in China and plans to expand its presence in the world's second-largest economy after the country eases its strict Covid-19 curbs, its CEO said.

Those returns would come from "great trading opportunities", including placing long and short bets on Chinese equities, said Man Group CEO Luke Ellis, without giving any details.

The comments come as most foreign funds have sought to exit China in recent months mainly on concerns that President Xi Jinping will prolong the country's strict Covid-19 policies and private sector crackdowns during his third term. "I think the alpha opportunities in China are very attractive," Ellis told Reuters on Thursday, referring to the potential to generate returns that are higher than market benchmark gains

〈The Standard, Nov 4, 2022〉The ontario government said on Tuesday it was raising the real estate speculation tax for foreign buyers to 25 percent, from 20 percent, to tackle a housing crisis in Canada's most populous province.

Ontario, which houses the financial capital of Toronto, is projected to have more new households than new homes by 2030.

"For too many Ontarians, finding the right home is still too challenging," said provincial Housing Minister Steve Clark.

Clark is also set to introduce a piece of housing legislation, as the government sets out to hit a target of building 1.5 million homes in 10 years.9

〈Hong Kong Business, Nov 3, 2022〉The property segment saw lower sales anew in October, with only 4,443 building units sold.

According to the Land Registry, the total sale for August was 8.1% lower than September's and 28.9% lower compared to the same period last year.

Of those sold, 3,148 were residential units. The number of sold residential units was down 18.8% from September and 32.2% lower than a year ago.

As the number of sold residential units saw a decline, the total consideration also dipped in October, decreasing 6.6% MoM and 45.3% YoY to $27.2b.

Overall, total considerations for all properties sold during the month declined by 5.8% MoM and 46.6% YoY to $32.8b.

〈Asian Post, Nov 2, 2022〉The prices of Hong Kong’s residential properties is expected to fall a further 5% up to 10% in 2023 from its peak in 2021, reports S&P Global Ratings.

Overall, however, the residential market is expected to remain resilient despite softening economic conditions, and with supply shortages propping up sales, the ratings agency said.

"We view fallout in Hong Kong's residential property market as cyclical, given the underlying demand and supply dynamics," said S&P Global Ratings credit analyst Edward Chan.

Chan notes that rated developers remain bolstered against the ongoing downturn. "Stabilizing residential prices driven by economic recovery, as well as prudently managed land investment, capital expenditure, and debt level over the next 12 months would be the mitigating factors," Chan said.

〈Hong Kong Business, Nov 1, 2022〉Real estate investors may have shunned Hong Kong in the past two years, but experts’ 2023 outlook—particularly for the industrial and retail sectors—may entice them to reconsider the city as a property investment destination. The property market is poised to end its down-cycle in 2022 and enter 2023 with hopes of normalisation.

“With the gradual easing of the social distancing and travel restrictions, we would expect to see a moderate recovery across all the sectors with momentum gathering pace starting in the last quarter of this year" said Dorothy Choe Colliers’ executive director of Valuation & Advisory Services for Asia.