Yuen Long News
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Hong Kong’s government announced its first property tax targeted at overseas buyers, stepping up efforts to cool home prices as U.S. monetary easing and record- low interest rates raise the risk of a bubble.
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Sun Hung Kai Properties Ltd., the Hong Kong developer whose co-chairmen face bribery-related charges, reported a slowdown in full-year profit growth after higher down payments and concerns over tougher government measures curbed apartment sales.
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Sun Hung Kai Properties Ltd., the Hong Kong developer whose co-chairmen face bribery-related charges, reported a slowdown in full-year profit growth after higher down payments and concerns over tougher government measures curbed apartment sales.
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A Hong Kong government land auction yesterday raised less than analysts estimated for the third time in succession as slumping global stocks and the city’s property curbs weigh on the world’s most expensive real estate market.
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Hong Kong’s developers yesterday signaled gains in home prices may slow further amid rising interest rates in China and the city, when they held back bids that exceeded surveyors’ estimates at a land auction.
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Hong Kong’s planned sale of nine residential sites in the second quarter signals the government will use more regular land auctions to help curb a two-year surge in housing prices, Credit Suisse Group AG said.
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Cheung Kong Holdings Ltd. submitted the winning HK$2.41 billion ($309 million) tender for a building site in Hong Kong’s Yuen Long district, the Standard said, citing Executive Director Grace Woo.
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The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
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Hong Kong will sell three land parcels in an auction tomorrow that comes after home sales in April fell to the lowest volume in two years following government measures to stem surging prices.
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Cheung Kong (Holdings) Ltd., which sold the most homes in Hong Kong in the first half, may lead developers’ bids at a government land auction as it seeks to replenish reserves after a pullback in home prices.
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