〈The Standard, Sept 10, 2022〉More homeowners sold flats held for more than two decades to avoid losses amid concerns over more interest rate rises ahead and a hot primary property market.

The secondary market recorded at least 61 transactions in July and August from owners who purchased the property more than 25 years ago, with profit growth of 1.1 to 36 times, agencies said.

Among the cases, the biggest value increase comes from a unit of Healthy Gardens in North Point.

The owner sold the two-bedroom flat, with a rooftop, for HK$8.28 million, gaining 36 times more after buying it 43 years ago for just HK$223,000. The per-square-foot price of HK$18,158 is about market level.

〈The Standard, Sept 9, 2022〉The pace of applications for pre-sale consents by developers has accelerated in recent months.

And the speed of releasing pre-sale consents by the Lands Department has also been moving faster compared with the period during the early days of the fifth wave of the pandemic.

The total number of flats approved for presale but not yet listed has exceeded 7,800 units - up more than 1.6 times from six months ago when there were only about 3,000 units.

Currently, most flats to be approved are medium- and large-sized flats.

〈Hong Kong Business, Sept 8, 2022〉Despite a 0.28 point drop in its rating, Hong Kong still ranked first in the latest Economic Freedom of the World report by the Fraser Institute, making it the freest economy in the world.

According to the Fraser Institute, Hong Kong has held the top rank in the index since the inception of its annual economic freedom report in 1980. Frasers Institute issued the report in 1980, 1990, 2000, 2010, 2015, 2019, and 2020, with the latter being the latest edition.

Fraser Institute measures the degree of economic freedom in five areas – the size of government, legal system and property rights, sound money, freedom to trade internationally, and regulation.

Hong Kong got a rating of 8.24, 7.5, 9.65, 8.73, and 8.84 in the five areas, respectively.

〈Asian Post, Sept 7, 2022〉August marked higher sales for the property segment, with 5,238 building units sold.

According to the Land Registry, the total sale for August was 4.8% higher than July's but 33.5% lower compared to the same period last year.

Of those sold, 4,137 were residential units. The number of sold residential units was up 12.7% from July, but 25.4% lower than a year ago.

Whilst the number of sold residential units saw an uptick, the total consideration dipped in July, decreasing 4.1% MoM and 40.4% YoY to $32.5b.

Overall, total considerations for all properties sold during the month still rose 118.4% MoM and 30% YoY to $91.6b.

〈Asian Post, Sept 6, 2022〉On Hong Ning Commercial Building at No. 793, Nathan Road in Prince Edward has been launched for sale.

The 14-storey building, estimated to be worth $280m, will be sold on an “as-is” basis.

Its sole agent said the property has an approved gross area of approximately 18,000 sq ft with a site area of 1,612 sq ft, whilst its basement and ground floor were used as retail with a floor area of 3,120 sq ft.

The property also comes with a separate entrance at ground level for the basement shop.