〈Hong Kong Business, April 27, 2024〉Hongkongers continue to leverage debt for lifestyle and property-related spending despite high-interest rates, Lendela reported.

From 2022 to 2024, Lendela reported that Hongkongers primarily borrowed for lifestyle-related expenses like vacations, hobbies, and cars, followed by credit card-related expenses and home-related costs, including renovations and property purchases.

Paying bills and consolidating debt were also reasons for incurring debt amongst Hongkongers.

In 2024, borrowers sought larger loans to consolidate debts, averaging $230,000 to $1m, with one in five applying, marking a 12% YTD increase.

〈Asian Post, April 26, 2024〉The volume of Hong Kong’s first-hand sales in the market has surged significantly after the removal of all property cooling measures.

According to Hannah Jeong, head of Valuation and Advisory Services in Hong Kong at Colliers, there was a 308.4% MoM increase in sales volume and a 67.2% MoM growth to 3,971 in first and second-hand residential units.

Jeong also projected a 43% YoY increase in transaction volume for residential units in 2024.

“Even there might be a delay in the US Fed’s rate cuts, the residential market revives due to the lift of the cooling measures and the current property price level,” she said.

〈The Standard, April 25, 2024〉Overall Grade A office market recorded a positive net absorption of 137,000 sq ft in March, JLL reported.

JLL attributed the growth to the realisation of pre-commitments in newly completed projects. One notable transaction is an insurance company leasing an entire floor with a total gross floor area (GFA) of 53,600 sq ft at AIRSIDE in Kai Tak to accommodate growing business demand.

The transaction also reflects the active role of insurance companies in driving leasing demand in Hong Kong, benefiting from the return of mainland tourists.

〈Asian Post, April 24, 2024〉The Census and Statistics Department (C&SD) revealed that consumer prices rose by 2.0% year-on-year (YoY) in March, slightly faster than the 1.9% average 1.9% increase for January and February.

After factoring out the impact of the government's one-off relief measures, the underlying inflation rate stood at 1.0%, also higher than the 0.9% average rate of increase for January and February.

Compared with March 2023, Hong Kong observed price hikes in categories such as alcoholic drinks and tobacco, meals out and takeaway food, housing, miscellaneous services, transport, miscellaneous goods, and clothing and footwear.

〈Hong Kong Business, April 23, 2024〉Overall Grade A office market recorded a positive net absorption of 137,000 sq ft in March, JLL reported.

JLL attributed the growth to the realisation of pre-commitments in newly completed projects. One notable transaction is an insurance company leasing an entire floor with a total gross floor area (GFA) of 53,600 sq ft at AIRSIDE in Kai Tak to accommodate growing business demand.

The transaction also reflects the active role of insurance companies in driving leasing demand in Hong Kong, benefiting from the return of mainland tourists.