Shi Yongqing recognises the wrong market “Up to your superstition” has created a “parental press” atmosphere
This year, the residential property market rose sharply. When Shi Yongqing, the founder of Centaline Group, accepted an exclusive interview with this newspaper, he also said that the property market had risen far beyond his expectations. He thought that this year’s property market had changed from “ascending to your trustworthy letter to becoming a superstition for you”. He also raised the floor of the entire year. The price increase is forecast to 15% to 20%.
The Central Plains City Leading Index (CCL), which reflects the trend of the second-hand residential property market in major large-scale housing estates, was last reported at 181.6, up 10.05% from 165.02 at the end of last year, and has risen against Shi Yongqing’s full-year 8% to 10% increase forecast. Shi Yongqing said frankly that this year’s property prices “have risen far beyond many people’s estimates, and all have exceeded their expectations. From rising to rising, you have become a superstition.”
Rent collection is still better than
He pointed out that although there are many uncertainties in the current market, “For example, (United States President) Trump’s remarks will always be the same, and (the Federal Reserve Bureau) will also slowly raise interest rates), but raising interest rates has always been constrained by economic growth and inflation. When economic growth slows down, interest rate hikes will restrain economic development. It is believed that the U.S. government does not want to “fight against the economy.” Therefore, it is expected that the pace of future interest rate hikes will slow down, and the impact of interest rates on the property market in Hong Kong will naturally be limited.
The “silicon” has not shaken the property market’s upward trend. However, the rising property prices in recent years have given birth to the spirit of “parents press their mothers” to help their children get on the bus. In the eyes of Shi Yongqing, the situation is a factor that causes property prices to rise. “Iraqi property prices do not reflect the purchasing power of the next generation, and Zhong reflects the purchasing power of the previous generation.” When purchasing power only reflects this generation of young people, it will have a constraining effect on the upward trend in property prices. The role has lapsed and we have to say that we are now adjusting your forecast for the year-to-year increase in property prices. Therefore, we increase the forecast for the annual price increase to 15% to 20%.
The market generally expects that the United States will raise interest rates this month. However, Shi Yongqing does not dare to say whether banks in Hong Kong will follow. He said, “Well, Hong Kong banks will save money. Now Hong Kong banks still feel that they have more money. When the Hong Kong dollar was replaced by the Shangyin exchange, the HKMA helped Hong Kong to buy a new channel (Hong Kong dollar). The Hong Kong dollar is small and demand is high, and interest rates will naturally rise.” He believes that this year’s preferential interest rate will be upward.
The hike in interest rates is expected to follow the continuous flow of hot money. Local banks in Hong Kong have raised their deposit rates in recent months. They are even more vocal that buying rents will become less attractive. However, Shi Yongqing believes that the era of rent collection has not yet passed. He explained that Hong Kong’s rental return is still better than fixed deposits, even if the interest rate hike is not enough to induce investors to stop buying flats. “I buy a floor with a 2 to 3% return on rent, while a Hong Kong dollar deposit has a 1% return on rent. Better than deposits, Zhongyou’s property prices have been rising all the way. Listening to the Central Plains City Leading Index every week will help you know more about your family.” Therefore, it is believed that the situation cannot be easily reversed.
If people do not have their own properties, or have continuous money income and have enough money to invest, “you can put some of the money on the property market” because the property market is now in the non-sowing period and it is in non-healthy harvesting. In the period, “Everyone is ready to reap. There is a risk that you will plant seeds at home.”
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