“The property price may not fall too much”
The property price of Hong Kong has continued to adjust. The Chairman and President of the Central Plains Group, Mr Wing Wing-lam, believes that after the higher property prices have fallen by 10% to 15%, the first support level can be found. “Only by building factors, property prices may not fall too much”, but The US friction will become the dominant factor next year, and the follow-up trend of property prices still depends on the Sino-US contest.
Shi Yongqing said that there is no over-construction in the real estate market in Hong Kong. Developers’ lending accounts for only about 20% to 30% of the assets, which is far lower than the level of mainland developers. The only thing is that property prices are high, making it difficult for some users to afford. However, he added that the market price is not only affected by the users. Although the government has made frequent moves, it is difficult to avoid investment factors entering the market. “Only considering investment factors, Hong Kong is not so explosive.”
The conflict between China and the United States has a huge impact on the market
However, Shi Yongqing believes that the Sino-US conflict has had a huge impact. The macroeconomic changes have made Hong Kong people more cautious about investment property attitudes. Second-hand market trading has shrunk to around 1,000 levels in September and October, reflecting the considerable size of buyers when they enter the market. concern. He believes that if the government wants to adopt a counter-cyclical policy, it should start to appropriately loosen the bank’s borrowing restrictions.
In the near future, some new discs have been enthusiastic. Shi Yongqing said that there are still buyers who want to buy flats. However, developers need to adjust their prices. Now that there are reference indicators, I believe that the developers will launch more new discs to drive the transaction. However, the trend of property prices after the first stage of next year still depends on the results of the contest between China and the United States.