Chen Maobo: The property market is cooling down.

Recently, the property market has turned quiet. The Financial Secretary Chen Maobo said that he was interviewed by foreign companies yesterday. It is said that the turning point in the property market is too early, but the downside risk of the property market is increasing.

Refers to the downside risk of the property market

Chen Maobo pointed out that the property market in Hong Kong has shown some signs of cooling in the past two weeks, but it is still too early to say that there has been a turning point. However, he believes that after the US interest rate hike, Hong Kong may follow the US interest rate increase in September, coupled with the outflow of funds from emerging markets, so the downside risk of the property market is increasing.

As early as in the middle of last month, Chen Maobo also mentioned in the blog that since the US interest rate hike in March this year, the interbank interest rate has increased a lot. In addition, there have been recent increases in the mortgage interest rate of new buildings by local banks. The burden on the building will increase. Looking forward to the second half of the year, there is a good chance that Hong Kong’s best interest rate will be raised. The long-term ultra-low interest rate environment in the past may be coming to an end.