〈The Standard, Jan 13, 2024〉Amid an economic downturn, shop rents in core areas of Hong Kong are seeing significant declines and creating opportunities for an increase of eyecatching lease deals in the retail market.

International giants and top brands are staking out strategic locations in Hong Kong's premier districts such as Central, Tsim Sha Tsui and Causeway Bay, snapping up large retail spaces.

That allows them not only to set themselves apart with a possible statement on the grandeur of luxury but also gives them a chance to possibly pioneer innovative retail approaches.

Chanel is one such brand, setting itself up on the ground and first floors at Causeway Bay's Capitol Centre in June by committing to a three-year lease at a monthly rent of more than HK$3 million - which, despite the money involved, is actually much lower than the HK$13.8 million the space fetched at its peak.

〈The Standard, Jan 12, 2024〉Developers are speeding up sales, with more than 7,300 flats to be put on the market in the upcoming first quarter, as the primary market is expected to gain momentum amid expectations of interest rate cuts.

Up to 18 projects are expected to be launched for sale in the first quarter, involving 7,348 units.

Of these, projects in Cheung Sha Wan, which provide more than 1,500 units, loom large by accounting for more than 20 percent of the total number of units.

Experts said developers would continue to use low prices to attract buyers.

〈Asian Post, Jan 11, 2024〉Hong Kong saw an increase of overseas buyers in its property market as reflected by the 377 transactions where three major stamp duties --- Special Stamp Duty (SSD), Buyer’s Stamp Duty (BSD), and New Residential Stamp Duty (NRSD) --- were involved.

According to Savills, the December transactions involving the three stamp duties amount to $332.4m and reflect a 46% MoM increase.

Special Stamp Duty collected in December 2023 was $6.5m, whilst the Buyer’s Stamp Duty reached $77.8m.
Meanwhile, the amount of duty charged with AVD at Scale 1 rates collected was $248.1m in December 2023.

For 2023, however, there were only 2,811 transactions, marking a nine-year low since records began.

〈Hong Kong Business, Jan 10, 2024〉Hong Kong’s budget for the next fiscal year will likely remain expansionary to boost the recovery next year, UOB said.

Stephen Li, head of Global Markets, Greater China, at UOB, said the budget will also include measures on housing, low fertility, and talent to revitalise the economy.

Once the budget for 2024-2025 is tabled in February, UOB expects official forecasts for 2024 to be released.

UOB, for its part, retained a growth outlook of 2.5% for 2024.

On the inflation front, UOB expects domestic prices to start to accelerate as improving domestic demand and wage growth translate into higher costs for businesses.

〈CNBC, Jan 9, 2024〉Hong Kong Disneyland Resort is opening a new land inspired by Disney’s blockbuster “Frozen” movie franchise.

The area, called World of Frozen, is set to open on Nov. 20, 2023. World of Frozen is a recreation of Arendelle — a fictional village featured in the “Frozen” movies that is home to the Disney sisters, Elsa and Anna.