{"id":11895,"date":"2012-01-05T20:01:09","date_gmt":"2012-01-05T20:01:09","guid":{"rendered":""},"modified":"2012-01-05T20:01:35","modified_gmt":"2012-01-05T20:01:35","slug":"Hong-Kong-Developers-Look-to-the-Dragon","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11895","title":{"rendered":"Hong Kong Developers Look to the Dragon"},"content":{"rendered":"<p><strong>The Year of the Dragon is a big year for marriages and babies. So what do Hong Kong\u2019s Dragon couples and Dragon babies need?  Dragon dens, of course. That\u2019s good news for Hong Kong\u2019s property developers.<\/strong><\/p>\n<p>It sure has been a rough ride for the likes of Sun Hung Kai Properties and Henderson Land Development. <strong>Property transactions fell to a five-year low in 2011, with the Hang Seng Property Index finishing the year down more than 20%. According to the latest Forbes Hong Kong rich list, real-estate developers saw their wealth decline last year.<\/strong> Li Ka-shing\u2014still the richest in the territory\u2014was 8% poorer than in 2010.  <strong>Not only is it a Dragon year, but it\u2019s also a leap year, according to the Chinese lunar calendar, with 13 months. The extra month is to synchronize the lunar year, which has 354 days, with the astronomical year, which has 365.25 days. The extra month makes it possible to have two \u201csprings\u201d in the year, which is auspicious. In Chinese, the word \u201cspring\u201d has connotations of fertility.<\/strong><\/p>\n<p><strong>According to Citigroup, more people tend to marry in these lucky years. Marriages rose 12% year-on-year in the auspicious years of 2001, 2004, 2006 and 2009, compared with 1% in the \u201cnormal\u201d years. Home prices also went up more in the good years\u201414% on-year, compared to 2% in other years.  With an estimated 60,000 couples in Hong Kong registered to get hitched this year, that should give a good shot in the arm to the city\u2019s real-estate market, says Citi.<\/strong><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Year of the Dragon is a big year for marriages and babies. So what do Hong Kong\u2019s Dragon couples<\/p>\n","protected":false},"author":1213,"featured_media":70655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-11895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"magazineBlocksPostFeaturedMedia":{"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"colormag-highlighted-post":false,"colormag-featured-post-medium":false,"colormag-featured-post-small":false,"colormag-featured-image":false,"colormag-default-news":false,"colormag-featured-image-large":false,"colormag-elementor-block-extra-large-thumbnail":false,"colormag-elementor-grid-large-thumbnail":false,"colormag-elementor-grid-small-thumbnail":false,"colormag-elementor-grid-medium-large-thumbnail":false},"magazineBlocksPostAuthor":{"name":"Joshua","avatar":"https:\/\/secure.gravatar.com\/avatar\/62ee23f8f40307578d1f284ecd823d77f32da8ea35541e7dbdafeb5da1a4e877?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"1","magazineBlocksPostExcerpt":"The Year of the Dragon is a big year for marriages and babies. 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