Cheryl Arcibal

Residential buildings in Hong Kong. In the next 12 months, 31,000 new residential units are expected to be launched by developers, property consultancy JLL says. Photo: Bloomberg

Buoyed by the brisk sales of flats following the removal of Hong Kong’s property cooling measures, the city’s developers have this year launched 4,800 new units as of last week, a seven-year high.

Louis Vuitton is returning to Times Square, three years after the French luxury brand shut its store, a sign of a brighter outlook for Hong Kong’s luxury retail market.

Swire Pacific, which has made healthcare a key growth area, has completed the acquisition of a controlling stake in Shanghai-based cardiovascular treatment provider DeltaHealth.

Buyers queue to buy 422 units at CK Asset's Blue Coast apartments in Wong Chuk Hang. Demand for property has jumped since all restrictions were scrapped at the end of February.

Hong Kong’s property transactions came close to a three-year high in April, with 9,880 units changing hands according to official data, as the removal of cooling measures continued to boost demand.

Mainland Chinese buyers account for anywhere from 30 per cent up to 80 per cent of the sales in some recent launches, agents say, raising hopes that their buying power will bring price stability to the market.

Prospective buyers stand in line at the sales office for the Blue Coast housing project, developed by CK Asset Holdings, in Hong Kong on April 6, 2024. Photo: Bloomberg

Hoka, the running shoe brand known for its thick soles, is opening two stores in Hong Kong this year as it ramps up its presence in Asia amid a fitness and health boom.

The office market in Hong Kong has experienced one of its longest streaks of double-digit vacancy rates, as tenants give up space and new buildings bolster supply. Photo: Bloomberg