Will Hong Kong’s Property Market Slow?

According to Hong Kong’s biggest realtor, Centaline Property Agency, the government’s new policy announced Friday has already had an effect: Residential property transactions in the city’s 10 major private housing complexes slid by 43% this weekend, compared to the weekend prior. On Monday, the stocks of property companies took a beating, with many falling around 7%.

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Federation of Hong Kong Business Associations Worldwide presents: Hong Kong Forum 2012

Hong Kong Forum 2012 is the annual flagship event of the Federation of Hong Kong Business Associations Worldwide to be held on 4-5 December 2012 at the Hong Kong Convention and Exhibition Centre. The two-day conference includes seminars with experience sharing by top business leaders from around the world, workshops offering practical business advice, a keynote luncheon featuring HKSAR Chief Secretary for Administration Carrie Lam and numerous networking opportunities. For more details, please kindly refer to the attached flyer and the Forum’s website http://www.hkfederation.org.hk/forum/forum2012/.

 

The Hong Kong Forum is a members-only event and it is now open to the members of Canadian Chamber of Commerce. We believe that it should be an extraordinary occasion for getting connected with new business contacts and keeping abreast of Hong Kong’s latest developments.

 

Registration fee is HK$800 only while seats are very limited and will be offered on first-come-first-served basis. We would be grateful if you could help disseminate this initiative with the attached promotional flyer and registration form to your members and encourage them to participate.

Please feel free to contact Tony Chan at +852 2584 4364 if you have any questions.

Where now for the Hong Kong dollar? Questions arise on future of the currency and its relationship with the yuan, with one hedge fund betting that the link to the US dollar will not last

Hong Kong’s determination to maintain its exchange-rate peg to the US dollar has the confidence of currency-forward traders even as it fails to sway hedge-fund investor William Ackman.

The founder of New York-based Pershing Square Capital Management said at the weekend that he was keeping a wager that would profit if Hong Kong let its currency appreciate.

Two-year forward contracts are weaker than the average in the past three years and the median forecast in a survey is for an exchange rate of HK$7.76 against the greenback at the end of next year, within the allowed trading range of HK$7.75 to HK$7.85.

Read more at: http://www.scmp.com/business/money/article/1067526/where-now-hong-kong-dollar

Colliers International Comments on Soaring of Toronto office market

Rents are up and demand for space has hit an all-time high in the greater Toronto area office market, according to a new report from Colliers International.

The real estate firm says the average vacancy rate across the GTA was 6.3% in the third quarter, down from 7.2% a quarter earlier. The downtown vacancy rate dropped from 5.5% to 5.1% over the same period.

The strong demand helped bring the rate on asking rent with the average in the GTA $17.83 per square foot per year, up 13% from a year earlier.

 

Read more at: http://business.financialpost.com/2012/10/22/toronto-office-market-soars/