Dai Deliang expects property prices to fall by 10% next year
Recently, the property market has experienced a rapid decline. DTZ’s vice president of Greater China and Taohua Hong, head of strategic development consulting department of Greater China, expects that property prices will fall another 10% next year, and the adjustment will be concentrated in the first half of the year. In addition, Knight Frank released the “Global Property Price Index" for the third quarter of 2018, which pointed out that property prices in Hong Kong were 15.7% in the past year, and the increase was the highest in the world.
Tao Yuhong said that the property market turned cold in the second half of this year, and the transaction volume was sluggish. It is expected that the number of residential transactions in the fourth quarter will be about 9,400, which is the second lowest quarter since 2004. Trading was frozen, property prices began to fall after the peak in August, the recent month’s decline is more urgent, the latest data fell 5.9% higher than this year’s high. According to the bank’s data, the first-city housing market in Shatin has fallen 20% in the past five months and returned to the level of April last year. Taikoo City in Quarry Bay also fell 15.7%, returning to the beginning of this year, that is, many The recent price declines in the housing estates have offset this year’s increase.
Tao Yuhong expects that due to unresolved trade war between China and the United States, there will be uncertain factors in the periphery. Property prices are expected to fall another 10% next year. The fluctuations are mainly concentrated in the first half of the year. If the highest level is compared this year, property prices will fall by 25 to 30%. The opening of a new order requires a market price and an increase in discounts.
Knight Frank: The Hong Kong Tower is crowning the world
In addition, Knight Frank’s “Global Property Price Index" shows that as of September 12 this year, the global residential market prices in 57 markets increased by an average of 4.9% year-on-year, the slowest growth in two years. The annual increase in general residential property prices in Hong Kong was the highest in the world, at 15.7%. However, the bank said that the property market has changed in recent months and it is expected that property price growth will slow down next year.