Hong Kong
The most significant tax reform in China
The new Individual Income Tax Law, which came into force in China on 1st January 2019 (“New Tax Law”), is a strong response to the strong criticism and social discontent under the previous legislation.
The most significant tax reform in China
The new Individual Income Tax Law, which came into force in China on 1st January 2019 (“New Tax Law”), is a strong response to the strong criticism and social discontent under the previous legislation.
Skyrocketing rents hit Hong Kong retailers hard
Retailers are burdened by leasing costs as high as $20,864 annually.
Home sales crashed 44% to 4,627 in May amidst launch drought
A property at Mount Nicholson on the Peak changed hands for $916m.
Grade A office net absorption slumps to 139,500 sqft in June
Rents also fell 0.3% MoM to accelerate space backfilling.
Less Hong Kongers expecting home prices to rise
The number of respondents forecasting home prices to grow fell to 36% from 42%.
Inflation hits 3.3% in June
Surging pork prices drove inflation levels up.
Firms expect business situation to worsen in Q3: survey
Retail, accommodation and food services, and real estate sectors are bracing for the worse.
Cathay Pacific acquires Hong Kong Express Airways
HK Express will reportedly remain a low-cost carrier.
Jobless rate unchanged at 2.8% in Q2
About 1,600 workers joined the labour force.
Asian flight bookings to Hong Kong fell 5.4%
Recent protests deterred would-be visitors from other Asian markets.
Luxury apartment transactions fell by 24.8% in Q2
Residential demand may pull-back over the next three to six months.
Secondary listings by Mainland firms to weigh on liquidity
Large IPOs in the pipeline and reduced aggregate balance still make liquidity conditions volatile.
Commercial property deals dropped 6.2% to $2.1b in Q2
The office sector continued to drive property investments, accounting for 53% of the total transaction volume.
High street retail rents slipped 0.1% in Q2
Most new leases were by mid-range retailers in the personal care and sporting goods categories.
Industrial vacancies dropped to 1.7% amidst weaker leasing momentum in Q2
Warehouse rents edged up 0.5% QoQ despite the downbeat trading outlook.
Total export volume down 4% in May
Total export and import volumes went down as prices increased.
Office rents fall for first time in five years in Q2
Leasing costs fell 0.4% led by declines in Central and Wanchai/Causeway Bay.
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