37 indicator Jiaxia zero transaction last month
The Midland Industrial and Commercial Department Information Research Department and the United States Business Data show that in June, only 50 transactions (including company transfers) were recorded for the 50 major indicators in Hong Kong, although they were slightly increased by 3 (about 23.1%) per month. In two years, the number of transactions was low.
Weng Hongxiang, director of operations and business director of Midland Industrial and Commercial Bank, said that with the global trade trenches and the stock market volatility, investors are holding a wait-and-see attitude. In the past two years, the price of Jiasha has increased significantly, and owners are generally aggressive. The prospective buyers are reluctant to chase the price into the market, which makes the trading situation into a stalemate.
Weng Hongxiang expects that the trade wars and other issues in the second half of this year will continue to affect the market. However, the overall demand for commercial buildings and the abundant market capitalization are favorable factors, which makes the office buildings with better prospects favored. The depreciation of the renminbi in recent months is believed to stimulate the Chinese consortium to actively purchase commercial buildings in Hong Kong for investment.