slump

New Business

100% rent hike forces Prince Jewellery to leave Hong Kong’s Russell Street after 21 years

Russell Street in Causeway Bay, one of Hong Kong’s most expensive retail strips, has been witnessing a rapid churn in…

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New Business

SCMP wins gold at Hang Seng University’s journalism awards with story on real estate slump

South China Morning Post was recognised in the best property reporting category at the 2024 Business Journalism Awards hosted by…

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New Business

Hong Kong banks face rising risks amid prolonged property slump, Moody’s warns

Hong Kong banks were likely to be more selective in extending credit to developers amid a prolonged property slump that…

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New Business

China state-backed developers give back land they acquired when property market was hot

From Vanke to China Resources Land, a number of state-backed developers on the mainland have unloaded land that they accumulated…

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New Business

Hong Kong’s July used-home price index drops to an 8-year low amid tepid property market

The prices of lived-in homes fell 1.9 per cent in July from the previous month, dragging the official benchmark to…

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