Property prices again challenge the SAR policy
Chief Executive Lin Zhengyue pointed out in a forum last month that property prices began to fall by about 9 to 10% in August last year. She fell back in the first two months of this year, which worried her. The words are still in the ear, the latest data shows that the property price is on the rise, Tang Rong believes that there are three points worth paying attention to.
high in 2018
Yesterday, the article mentioned that the CCL index of Zhongyuan Real Estate was the latest at 177.41 points, and the high level was 188.64 points in August last year. In other words, the current level rose by about 6.4%, which will break the peak of last year’s property prices.
Or using the official data of the Hong Kong Government, the Rating and Valuation Department announced last week that the private property price index in February this year was 365.2 points, up 1.33% month-on-month, which was the highest in June last year. The increase was 1.59% for two consecutive months. As for the historical high, it was 394.8 points in July last year. The difference between the two is 29.6 points. As long as it rises 8.2%, it will break through the historical high. The increase in the price of the property that the Hong Kong Government is concerned about and the choice of the general public are on the rise. According to this uptrend, about six to seven months, that is, the fourth quarter of this year will break through last year’s high, and the property price will hit another peak, which naturally increases the pressure on the chief executive.
Property prices rose by 2%
The property price index shows that the increase in property prices has been expanding for two consecutive months. It has been mentioned in the past that if the price of property increases by 2% or more for two consecutive months, reflecting the rapid increase in property prices, the track record will trigger The SAR Government has taken measures to curb the property market. Whether the index next month will touch the sensitive point of the 2% increase needs to be highly concerned.
from the pressure of neighboring countries
A few days ago, the report pointed out that in July last year, Singapore once again added to the property market, and the degree of spicyness surpassed that of Hong Kong. It seems to have begun to bear fruit. It is reported that in the first quarter of this year, the price of private housing in Singapore was the biggest decline since the third quarter of 2016, and the price of luxury homes was even higher. The biggest drop in 10 years.
According to preliminary data released by the Urban Renewal Authority (URA) in Singapore, the private residential property index fell 0.6% in the first quarter of this year compared to the fourth quarter of 2018. Reuters reported that this index fell for the second consecutive quarter after falling by 0.1 percentage points in the fourth quarter of last year.
In addition, data released this Monday also showed that house prices in prime locations in Singapore, including Orchard Road shopping district and Sentosa, fell 2.9%. According to Cushman and Wakefield, this is the biggest decline since the second quarter of 2009.
The Chief Executive recently stated that affordability is an important matter for the public. The only solution to Hong Kong’s pursuit of a free economy is to increase the role and function of the government. She also frankly understands that she would not be a good chief executive if she could not effectively deal with housing problems. The pressure of rising property prices is coming in many directions. How will the Chief Executive respond?