Property prices rise or fall buyers are not expected to reverse

After the property market in Hong Kong has gone through more than 10 years of upswing and property prices have been rising more urgently, the more they are sought after by buyers, the crux of the matter is that the public is pushed into the market with the expectation that property prices will only rise or fall. In 2018, Property prices are also easy to rise or fall.

Active housing can not keep up with demand growth

Over the 10-year period of property market ascent, the overall index of residential property prices doubles and also recorded a year-on-year increase of 13% last year. Since the previous government began, efforts have been made to reverse the public’s expectation of “rising or not falling” only by increasing the supply.

According to the statistics released by the government, the statistics of the Transport and Housing Bureau show that the supply of potential private residential properties for the next three to four years will reach 97,000 (up to the third quarter of last year), with an average of between 24300 and 32300 a year, Long-term goal, higher than 35% to 79%.

However, despite the increase in supply, the demand has risen simultaneously. Last year, a total of 18,400 contracts were recorded, a 10-year high since 18,900 in 2007, which is above the government long-term goal.

In terms of long-term supply, the latest government package is the reclamation of Ma Liu Shui Reclamation in Shatin and together with the vacated Shatin Sewage Treatment Plant site, bringing the total to 11,000, comparable in size to Tai Koo Shing. However, the supply of housing from the research, planning, granting of land to housing construction can not be expected until 10 to 20 years from now.

Therefore, when property prices hit a new high today, the public is also required to rush into the market. The key point is that the people’s expectations of a rise or fall in property prices in Hong Kong have become more and more profound. They are afraid that they will “later buy more expensive” and ” The idea. This is expected to not reverse, property prices easy to rise and fall.