Qiu Dachang: the property market should be cautious consolidation operation
Hong Kong property prices hit record highs, Far East Development (00035) Chairman and Chief Executive Officer Qiu Dachang frankly, the current property is too expensive, the public must be careful before considering the home buyers, the property market is time to consolidate.
Property prices expensive, the public on the train more difficult Qiu Dachang pointed out that the past five years should be the history of low interest in the golden age, the Government should help the lower class on the train, rather than take care of banks and property developers life and death.
The Hong Kong Monetary Authority (HKMA) has tightened the proportion of developers’ borrowing. He believes that Hong Kong, as a free society and a lot of developers borrowing and repayment, should not let them go bankrupt. The New Deal disguised the enterprises: “I often told the Government that the property developers, Should help the prospective home buyers, this is the primary task of the Government. "
More than 2 million pairs of supply when the repeated consolidation
Qiu Dachang added that the trend of low interest rates, global Yinyin paper is changing, the market population is aging, and the rise in Hong Kong supply is strong data on property consolidation: “Over the past 15 years, when the Hong Kong occupation units are between 1.5 and 18,000 , The property market is good, but several times the supply of more than 20,000 households, the property market will appear consolidation.
“When the market is good, everyone wants to listen to good news, no one will put bad news on the heart, often the negative message ignored, and vice versa." He admitted that the Hong Kong property market will not fall tomorrow, Only that the data reflect the property market is time to consolidate.
Under the competition, China still intends to vote
Property prices and land prices related to the rise in land prices year after year, Qiu Dachang said that by the impact of land in China, coupled with the local property developers in recent years to become conservative, but the company will continue to vote in the future: “the last 10 sites, (Far from) may win one, and if we do not have the same attitude, the market will hold a different view, and that 20 sites may not be one.
China and Hong Kong investment in the UK and Australia to invest in the early years, he said that regional development can reduce the risk, the Hong Kong property market once down, but also by other areas of business to make up The As the Group overseas platform than the mainland mature, Qiu Dachang said earlier Chinese companies interested in the acquisition, but no interest in the sale.