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The history of Hong Kong's real estate industry can be traced back to the establishment of the land auction and land rights system and the land lease system in the early days. After World War II, emerging real estate developers represented by Wu Duotai and Henry Fok successively proposed the sales method of "layered sales and installment payments", promoting the transformation of real estate management methods and promoting the initial development of modern real estate industry from both supply and demand perspectives. In the early 1970s, with the rise of Hong Kong's stock market, emerging real estate developers represented by Cheung Kong Holdings, Sun Hung Kai Properties, Hopewell Holdings, and Henderson Land Development successively got listed and fully utilized the functions of the stock market to raise funds to expand their businesses, promoting the rapid development of the real estate industry. By the mid-to-late 1990s, the real estate industry had become an important pillar of Hong Kong's economy and was known as the "barometer of Hong Kong's economy". After 2003, driven by various internal and external, subjective and objective factors, Hong Kong's real estate market began a 16-year cyclical bull market. During this period, the "high land prices", "high property prices", and "high rents" caused by serious imbalance between supply and demand of land and housing had a negative impact on Hong Kong's economic performance and social livelihood. It became a deep-seated factor in many problems in Hong Kong's economy and society. Based on the author's "A Century of Hong Kong Real Estate Industry" published in 2001, this book extends the timeline to 2020, attempting to reveal the entire historical trajectory of the real estate industry from its inception, development to maturity against the macro background of Hong Kong's economic development, transformation and population growth. From this, the basic characteristics and development laws of Hong Kong's real estate industry are discovered, as well as its status, role and influence in the overall economy and people's livelihood. At the same time, the successful business investment strategies and setbacks and failures of major real estate groups are also studied in depth for reference.
- AuthorFeng Bangyan
- PublisherJoint Publishing
- Publication Date2021
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