Huang Jianye estimates that property prices have peaked in April
Affected by the recent increase in trade friction between China and the United States and the government’s proposal to amend the Fugitive Offenders Regulations, property prices have been blocked and have fallen. Mei Jian Group (01200) Chairman Huang Jianye believes that property prices have already peaked in April and the second half of the year. The trend is expected to remain stable and will not rise and fall.
Huang Jianye said that the property market began to turn from the deterioration of Sino-US trade disputes in May, and the government proposed to amend the Fugitive Offenders Regulations, which caused the market to fall into a semi-stop in June. The 35 housing estates in the survey only recorded 67 small and medium-sized flats transactions on the first 18 days of June, which was a 53.5% drop from the 144 cases in the same period in May. The sale of luxury homes with a selling price of over $50 million also fell from 34 in the same period. To 22 cases, the decline was about 35.3%.
Expected to remain stable in the second half of the year
He believes that the impact of political events on the property market is short-lived, and economic factors have a greater impact. As the Sino-US trade war has not been resolved, there is no good news to stimulate property prices to rise. This year, the high price of property prices has already appeared in April, and the property market is expected to remain in the second half of the year. smooth. However, he pointed out that only some second-hand owners are willing to reduce their prices by 3% to 5%. This is different from the case when some traders broke the price of 8% to 10% when the Sino-US trade dispute broke out last year. This reflects that the owners are generally waiting to see the situation. attitude.
With the suspension of the amendment of the Fugitive Offenders Ordinance, Mr Wong believes that the owners will “fix" and the trading atmosphere of the property market will also improve. The residential transaction volume is expected to rebound by about 28.6% from about 3500 in June to about 4500 in July. .