27/6/2017-5

The property market dilemma is a serious test

In the past 20 years, the property market in Hong Kong has experienced a surge in the current situation. The property market is struggling with the affordability of the public. The traitorium of the Chief Secretary Lin Zhengyue is even more serious. How can we cope with the contingency of Lin Zheng and the anti- force.

After the reunification, the first chief executive, Mr Tung Chee-hwa, promoted the “85,000″ housing policy to enable 70% of the people to set their own home in 10 years. However, in the case of the Asian financial turmoil and SARS, property prices fell, Suspension of land to stabilize the property market.

In 2003, after the financial tsunami, the global central bank launched a measure of width and width. In the ultra-low interest rate, the influx of hot money into Hong Kong to buy property, and the North to the south, so that property prices continue to rise. Even if the chief executive Liang Zhenying launched a multi-round property market hot strokes, property prices are more and more, more than 97 years higher than nearly 9 percent.

Private buildings are hard to get on the bus

Lin Zheng is about to take office, the face of the property market situation is very grim and difficult. The first question is how to solve the public’s greater demand for public housing. As the private building has been far beyond the affordability of the public, most people have to go upstairs or on the bus only by public housing. At present, the application for Waiting List has increased to nearly 276 000 cases. An average of 4.6 years will be able to go upstairs. 49% of HOS’s over-subscription will reflect the huge demand for public housing and HOS flats.

The policy of the new government is to ensure that there are 18,000 private housing units available each year, and the remaining land available for use is used to build public housing to meet the basic needs of the public. However, according to the 10-year housing scheme, it is still possible to build 44,000 land for public housing. Where did you come from? Is it more public housing or HOS? Or is it “green home"? Even for the application of the “Hong Kong people first home on the car" In the test of the new government’s vision and ability.

The impact of the property market will be affected by the economy

Another problem is how to face the property market reversal and floor management delisting, because as the United States continued to raise interest rates, before the end of the implementation of the reduction of the balance sheet, the Hong Kong interest rate will eventually increase, meaning Lin Zheng Ren ultra low interest environment will end , The property market cycle changes, property prices have the opportunity to adjust very high.

First, regardless of the property market is still incandescent, the new government may first add spicy, the property market if the reverse impact of the economy, the Hong Kong government will reduce its destructive power? Reversal of the market conditions, the Government will inevitably let the spicy delisting, but the steps? First 15% flat stamp duty Cancellation of stamp duty for non-Hong Kong home buyers? First relax the mortgage? Or other hot strokes?

So that the problem is more complicated, the more hot strokes more and more, has created a lot of side effects, such as the second-hand market ice, the property market atmosphere does not fall or so rise. If the withdrawal of hot strokes will also provoke side effects, such as second-hand supply suddenly released, so that the property market to adjust the pressure but larger? How to delisting on the property market and the impact of the economy to a minimum, Lin Zheng must be prepared as soon as possible.