Difficult to bear the property price Chen Maobo: not help on the train

The Financial Secretary, Mr Timothy Chan, said that the increase in property prices in Hong Kong was seriously out of line with the affordability of the public. At this stage, the Government was not suitable for introducing measures to help the public get on board. Whether he would “add spicy”, he said he would not comment, so as not to fuel the property market.

House prices rose 180% over 2008

Mr Chan said before the departure of the property market in Hong Kong, the current property market at a high level in the first quarter of this year, which further deteriorated to 66.1% in the first quarter of this year. Comparing the 2017 June and 2008 high selling prices, the price increase for small and medium-sized units was 180%.

Chen Maobo mentioned in the blog, in the next 3 to 4 years, there are 98,000 potential single-handed private residential units, which is estimated to be about 7 into small and medium-sized units. In other words, the price of small and medium-sized units has increased significantly over the past few years, but the future supply will increase significantly, hoping to buy on the car plate to pay attention.

Asked whether the Government will introduce measures to make it easier for the public to buy their own homes. Mr Chan said that at this stage it was not suitable because some of the financial capacity would be “at the present stage” when the future of the property market would be high Car, the property market in the future have any adjustment, they are very hard.

“Everyone’s appeal to the Government will respond”

“But everyone’s appeals and difficulties, I know, I am in my heart, and when there is a chance, the government will respond to their demands,” he said.

As to whether the property market will add spicy? Chen Maobo that will not comment, so as not to have the role of the property market to add fuel to the flames. In particular, he mentioned that the US interest rate will only rise in the future, and the US Federal Reserve is expected to begin to reduce the balance sheet this year, the relevant uncertainty will make the global financial markets and local asset prices.

In the context of the linked exchange rate system, it is impossible to follow the rate hike in the United States. It is only necessary to see when the rate increases. When the interest rate changes, the property market will be affected and hope that the prospective home buyers will pay attention to the risks.

Mr Chan said that the Government had introduced a number of rounds of demand management measures to successfully crack down on short-term speculative activities. In recent years, the transaction, which accounts for an average of less than 1% of the residential property, was also effective in curbing foreign demand. %. With the increasing supply of land in the past few years, the supply of future first-hand buildings has also increased substantially over the past few years, which will reverse the tight supply and demand situation in recent years.

He also pointed out that the future of the potential single-hand private housing 98,000 units, does not include the pre-sale of the first-hand unit, that is, even in the past three years, single-handed market turnover surge in the case of future supply of primary Still will continue to increase.