Property prices rose 5% in the first two months
Hong Kong property prices continue to rise. Real estate consultants believe that property prices can rise another 10% in the first half of the year, with luxury housing prices more likely to rise by 15%. It also said that second-hand transactions in the first two months of this year accounted for about 80% of overall turnover, higher than last year. 70% of the year’s share of the market development is more healthy than expected.
Tao Shuhong, vice president of Greater China at DTZ, and Greater China Region, said that generally, January and February are the off-seasons of the property market. However, in the first two months of this year, an average of 7,000 transactions were recorded, an increase of 35% year-on-year. During the period, property prices also rose by 5%. In addition, he pointed out that the expected one-handed situation last year will continue, but the current situation has changed, and second-hand transactions began to rebound in the first two months, second-hand transactions in January and February accounted for the entire transaction, respectively 84% and 80%, higher than Last year’s 70% level reversed the dominant trend.
Danny Leung, head of Asia Pacific Valuation and Advisory Services Department, pointed out that the government’s sales of land surface are expected to increase by 25,000 supply units this year, but 11,000 of them are under planning. Therefore, short-term residential supply is still insufficient, and property prices are also difficult to achieve within a short period of time. Fell. In order to speed up the increase of land supply, he suggested that the government develop more than 1,300 hectares of brownfields and that it would provide about 600,000 units, and should expedite the use of land conversion.