Second-hand homes are now in the tide of price reductions, new housing policies are effective, and transactions are frozen.
When property prices soared for a long time, the Chief Executive, Mrs Carrie Lam, launched new subsidy schemes at the end of last month, including the “50% off" new HOS flats and the allocation of nine private residential flats to subsidise housing development, so that the local grassroots could rekindle their hopes of getting on the train. Many people prefer to wait for a new round of “parity" HOS flats. As a result, the subsidized housing market has started to cool down since July. The Green Table HOS flat has expanded significantly to about 6%. Market participants and scholars believe that the “new housing policy" has brought short-term pain to the second-hand HOS market and the transaction has been seriously frozen. The new HOS flats have undoubtedly attracted a lot of purchasing power to enter the market. In the short term, the second-market uptrend is expected to slow down. The growth rate will narrow to 5% in the second half of the year. If there are external factors that impact the economy, it may even turn down. ■Hong Kong Wen Wei Po reporter Su Hongjun
In the first half of this year, the news of the second-hand market in the second-hand market was up and down. The cost and price records were quickly broken in the first half of the year (see separate manuscript), which confirmed the property market and the subsidized housing prices. Soaring. At the end of June, the Chief Executive launched a new six-pronged move, including decoupling the price of new HOS flats from the private property market. This month, the second-tier market has seen price cuts, and the size of the talks has expanded significantly.
Take Tseung Kwan O as an example. In recent days, there have been a number of price reductions. Four high-rise two-bedroom homes in Fukang Garden, Tseung Kwan O, with a saleable area of 484 square feet. The original owner opened a price of $5.4 million in May this year. There has been no price cut and the end of last month. After Lin Zheng’s move, he finally reduced the price by 9.3% and took out 4.9 million yuan. In the same area, Baoying Garden has a high-rise two-bedroom home with a practical area of 484 square meters. The original price in the green watch market was about 5.6 million yuan. Recently, the price was reduced by 220,000 yuan to 5.38 million yuan, a decrease of about 4%.
New home ownership, property prices have slowed down
The visiting professor of the Department of Marketing of the Chinese University, Mr. Yu-ming, said that the proportion of home-stay land premiums in the past was about 30% in the private property market. When the price of private property soared, it would also rise. In the future, the new HOS flats will be determined at the income level, which is equivalent to a 50% discount on the market price. If the future property prices continue to rise and the median income gap is getting larger and larger, the HOS discount may be even greater. fold.
Mr. Yu continued that the new batch of HOS flats came from prime urban areas, including Cheung Sha Wan and Kai Tak. Recently, there have been billions of landlords, and the price of new flats in the district has reached 20,000 yuan. “If the new HOS flats are 50% off the market price, there will be no flats in the same area. If the pick-up is good, it can be expected that the new HOS flats will be over-subscribed." He expects Green Watch buyers to turn their attention to the new HOS flats. The market will reduce the number of green-listed HOS flats in the market in the short term and the talks will be even larger.
Looking ahead to the second half of the year, under the “fair price" new HOS flats, Yuen Ning expects that the green table home price may slow down, and the increase in the second half may narrow to 5%. However, he also mentioned the negative factors in the second half of the year. In addition to the US interest rate hike, the impact of the Sino-US trade war on the mainland economy is still unknown. Hong Kong and the Mainland are dependent on each other. I believe that they cannot be immune to the situation. The property market may have the opportunity to turn down.
Frozen in the second market, the expansion to 6%
Chen Yongjie, Vice Chairman and Head of the Residential Department of the Central Asia Real Estate, said that the last three housing estates had received more than 140,000 applications at a 30% discount. If the price of the HOS flats is changed to 50% off the market price, I believe that It will attract more than one citizen’s application and may receive more than 300,000 applications. Chen Yongjie believes that the government’s new HOS policy is intended to separate the private market from the subsidized housing market. The period from the announcement of the sale price of new HOS flats to the picking of flats will bring short-term pain to the second-hand HOS market. The transaction will be severely frozen. However, the supply of HOS flats has been very tight. I believe that more than 4,000 new HOS flats will be immediately marketed. After absorption, the power of the second-hand market will gradually decline.
Wang Dunjing, president of Xiangyi Real Estate, said that the impact of Lin Zhengxin’s move on the market has gradually emerged. Some frontline employees have reported that the landlord’s counter-offer rate is about 1% before the move, and this month it has generally expanded to 4% to 6%. He believes that the low-priced new HOS market will be short-lived in the short-term. In the second half of the year, the green watch market price is expected to continue upwards, but the increase may narrow to 2% to 3%, which is not exaggerated in the first half of the year. However, he added that there is no major change in the overall subsidized housing market structure. I believe that after the market digests the news, the purchasing power will gradually return to the market, and will remain unchanged in the short to medium term.