47% of respondents are bearish on property prices in the next six months

The public is expecting a gradual change in property prices. A survey of the property market prospects has visited more than 1,000 people. The results show that 47% of respondents believe that property prices will fall in the next six months, up nearly 6 times from the previous survey. .

The REA Group, a residential and commercial property website, commissioned Nielsen to visit 1,002 people aged between 18 and 65 in an online questionnaire from October 12 to 21 to investigate the prospects of Hong Kong’s property market.

REA: Only 7% of people fell in the first half of the year

According to the survey results, 47% of the respondents believe that the property market will fall in the next six months. The same survey conducted in the first half of the year recorded a 7% increase, which is a substantial increase of nearly 6 times. The proportion of expected property prices will rise. From 69% in the first half of the year, it fell to 29% in the second half of the year, reflecting that the market’s expectation of a rise in the property market has reversed. Another 24% believe that the property market will be stable, and respondents expect the property market to fall by 12%.

Although property prices have started to fall, property prices are still at a high level. 27% of respondents are convinced that they will not be able to purchase residential properties in Hong Kong in their lifetime, which is similar to the results in the first half of the year. 73% of respondents believe that they are buying homes. Need to rely on the father, the average amount of funding needs to be 1.41 million yuan.

Huang Zhu Baoyan, chief executive of REA Group Greater China, said that the recent decline in property prices is only in the range of 5 to 10%. Factors such as rising interest rates will affect the property market, but it is still difficult to predict exactly how much the property prices will fall. Nerida Conisbee, the group’s chief economist, said that the most worrying factor in the decline in property prices was the Sino-US trade war and its impact on the economy, followed by factors such as rising mortgage rates and stock market panics.