Hong Kong has come out on top again, but not in a good way. After earning the distinction of having the highest petrol prices in the world, we have again been named the world’s priciest residential property market in the “Mapping the World’s Prices” report released by Deutsche Bank. We managed to keep our top spot despite a 10 per cent drop in property prices from pre-pandemic levels. Naturally, this is not something Chief Executive John Lee Ka-chiu will be blowing his horn about. Generations of...
New Zealand’s flood-prone homes are outperforming the rest of the country’s moribund housing market, as buyers chase lower prices and shrug off climate risks. Properties facing the highest flood risk have gained 26.1 per cent in value since January 2020, compared with 19.8 per cent for homes with no exposure, property consultancy Cotality said in Wellington on Tuesday. Discounts of as much as NZ$100,000 (US$60,000) on some houses were proving too tempting for cost-conscious consumers, it...