Acting dog year property prices rose 10%
The overall property market has been showing steady performance in Ding chicken year except in the summer months of July and August. Statistics show that more than 7,000 monthly registrations were recorded in most other months, with individual months approaching 8,000 or even 9,000 The level of the case, driven chickens show volume and price rise. Industry Outlook During the Year of the dog, in the first and second-hand and non-residential properties, sales volume of the entire building could be increased by 5% to 8%. Property prices generally are expected to have about 10% upside.
Chickens turnover surged 800 billion new high
Based on the data from the Land Registry, as of February 12 this year, Ding Yau Chick (28 January 2017 to 15 February 2018) recorded a total of 88,944 buildings for sale registered in Hong Kong with a total value of property transactions of about $ 766 billion It is estimated that the annual registration value will eventually reach 90,000 and reach $ 810.5 billion. The data will be 21% and 44% higher than the 74,218 cases and the $ 563.4 billion respectively of the Cheshen Year of the Monkey (February 8, 2016 to January 27, 2017) , A record high in recent years, while the registration amount is expected to exceed 800 billion yuan.
Looking back at the various types of properties in the Year of the Rooster, Chen Haichao, director of Real Estate Research at Richemont, pointed out that first-hand housing is like “dancing with chicken.” Since February last year, over 1,000 single-handed registrations have been recorded for the first 11 consecutive months, of which 3 Over 2,000 monthly registrations are recorded. As of February 12, Hong Kong recorded a total of 20,292 residential units for sale and purchase, up 12% over the year of the monkey. The total turnover surged 32% over the Year of the Monkey to a total of 256.93 billion yuan.
As regards second-hand housing, after the first year of recuperation at the end of Year of the Monkey (2016), the Year of the Rooster started to flourish. In March, second-hand registrations broke through 4,600 and hit a 4,500 high for 3 consecutive months. Although registrations softened after the plate was digested, the trading started to recover gradually from the second half of the year and rose for a fourth straight month to an over 4,500 highs in the first half, which continued until the end of the year. To conclude the Year of the Rook, 48,889 second-hand residential sales registrations were recorded in the territory, involving a total value of $ 354,043 million. The registration value of the second-hand residential property sales rose 18% and 34% respectively over the Year of the Monkey.
Non-residential property to win the big market last year
Non-residential property market performance significantly outperformed the previous year. Since the second quarter, the number of successful commercial listings in commercial buildings has been outstanding, with over 800 registered in the quarter. For the 10 consecutive months, both industrial and commercial buildings recorded more than 400 monthly subscriptions. The monthly sales of shops also maintained over 100 levels. There was also support for the sale of pure parking spaces, which helped drive the annual non-residential registration value Recorded 19,763 cases and 1,850.22 billion yuan, a substantial increase of 34% and 77% respectively over the previous year.
Chen Haichao looks forward to embarking on the dog movement of the Hundred Days of the Hundred and Eighty Kingdoms. Although the interest rate is on the rise, Hong Kong is still in an environment of low interest rates. The situation in excess of supply in the market is temporarily unmanageable. In addition, the economic performance this year is still promising. With the construction of cross-boundary transport infrastructure to be opened to traffic in succession, it is expected that the market for residential and industrial and commercial commercial buildings will be built together. It is expected that the overall transaction volume of the Year of Dogs will increase by 5% to 8% Hope there is 10% upside.