Gao Li expects a 4% decline in property prices this year

Gao Li expects a 4% decline in property prices this year.

Colliers International released the 2019 Hong Kong real estate market outlook report yesterday. It is predicted that private housing prices will stabilize from the downturn in the second half of this year, and property prices will remain high in the middle of the year. The bank believes that the first-hand property prices will record a 15% decline in the first half of the year, while the second-hand property declines are more moderate, which is expected to fall by 10%. In the second half of the year, property prices are expected to rebound by 6% to 7%. The overall year-on-year estimate is expected to fall by about 3% to 4%.

Zheng Haiyan, a senior director of the Hong Kong valuation and advisory services, said that a number of new offers in the near future offer higher discounts, such as a 15% discount on Kwun Tong Kaihui and a 34% discount on Tai Po Diamond. She said that although the developers offered higher discounts than before, they checked the government’s land sales information, which shows that developers can still obtain considerable profits. Looking forward to this quarter, she expects developers to continue to offer property discounts above 15%; second-hand property prices are relatively light, and price declines are moderate.

Relaxing mortgages can help 7% families get on the bus

As regards the recent relaxation of the number of mortgages, according to the statistics of the bank, if the Government increases the number of mortgages from 60% to 80%, families with monthly incomes ranging from $40,000 to $60,000 can benefit from the opportunity to get on the train and pay $7 million. The first phase of the horizontal private house. The above-mentioned group of households account for about 7% of the territory. Zheng Haiyan also pointed out that if the above policies are implemented, the transaction will become more active, but it will not necessarily lead to a rebound in property prices. Furthermore, depending on the government’s record of selling land in recent years, the number of land launched by it has not reached the target. It is expected that the situation will continue this year. The lack of land supply will support the property market and property prices.

In the commercial market, Yan Huiping, general manager of the Hong Kong Commercial Property Services, said that rents for commercial buildings in Central and Admiralty are expected to fall by 3.8%, which is a health adjustment since the beginning of 2015, after a 40% increase. Looking back last year, the shared office accounted for 30% to 40% of the newly leased floor, which drove the lively atmosphere of the commercial market in the first half of the year. Yan Huiping expects to find a suitable place to stay in Hong Kong this year.