Yongyi: 5% fluctuation in property price, interest rate increase on small units
Hong Kong’s property market is full of uncertainties, global economic impact and interest rate hikes. The executive director of Yongyi International (01218), Guan Kexin, said that the overall adjustment of property prices next year will be about 5%, and there will be opportunities for mutual weakness.
As for the downside signs of the property market, Guan Kexin said that when interviewed by the newspaper, although there are many uncertainties, it is not entirely negative. If the UK is about to complete the Brexit, local buyers who have been investing locally will have the opportunity to transfer funds and seek a more stable way to return funds to Hong Kong. Coupled with the low unemployment rate in Hong Kong, everyone has jobs, buyers have high ability to hold goods, and they still have confidence in the long run.
Guan Kexin: The mid-priced building continues to be stable
She expects that the price of property prices will be high next year, and the adjustment rate will be no more than 5%. The overall property price is still in order and healthy development. It is expected that the interest rate hike will have the greatest impact on the fine units. On the other hand, the trend of the medium price building and the luxury house will continue to be stable. Most of the market transactions were affected by psychological factors, and the turnover fell. However, based on the appearance of individual cases, the buyers were discouraged or wait-and-see attitudes.”
The government intends to increase the proportion of public housing or directly impact the small and medium-sized unit market. Guan Kexin believes that in the past, the people have always had a demand for getting on the train. Therefore, developers are also actively launching low-priced buildings. If the government takes the lead in helping the public to get on the train, it is a good thing overall. Although it will more or less reduce the demand of the private market, public housing There are certain income restrictions, and the public can also regard it as a career ladder. When they have the ability, they will inevitably re-enter the private market.
The Kowloon Tong Project is scheduled to be launched in the second quarter of next year.
For the next four to five years, there are nearly 90,000 residential units available. Officials can be convinced that there are a lot of supplies on the surface, but on average only about 20,000 units per year, similar to the past few years, according to past conditions, market digestion The ability is high and there is no situation of oversupply, so there is little pressure on developers to push and price.
As regards the deployment of the Group, the La Salle Road project, which was originally expected to be launched this year, has been sold in the whole building. As a result, the Group does not have much land bank. It will launch Kowloon in the form of a new building as soon as the second to third quarter of next year. The Tang Yan Wen Li Shi Road project involves about 60 people. The apartment consists of 1 to 4 rooms and has special units.
The Ho Man Tin Waterloo Road Project will be completed in 2021 and will be available in the form of uncompleted flats in 2020. It is expected to provide 2 to 3 flats.
For commercial projects, the Causeway Bay Project in Causeway Bay will be developed into a Ginza-style commercial building with a height of 24 storeys and a floor area of about 1,000 square feet. The merchants will mainly be featured restaurants and beauty make-up. The store will be developed into a flagship store. Foundation works are expected to be completed in 3 years.
The Group intends to sell the Gloucester Road Capital Centre in Wan Chai, with an area of 14 ,500 square feet. The project is now fully leased out. Due to the excellent location, the whole building is expected to be sold with a tenancy agreement. However, the emphasis is not on the sale. There are buyers and the price is right again