Far from home medium-sized residential property prices almost peaked
In recent years, the property price index has hit record highs. However, Chairman of the Far East Development (00035), Chiu Tat-cheng, thinks that the prices of domestic residential properties (about 8 million to 10 million yuan) targeting middle-class families have peaked at about the same time.
Chiu Tat-chang pointed out that he did not know how to analyze the current trend of property prices. However, Hong Kong is the best place to live in Asia and has low tax rates. It is a major impetus for the property market in Hong Kong. However, as property prices continue to rise, The unit area of families is getting smaller and smaller. I believe the prices of flats in these flats have almost peaked.
Chinese developers continue to land at a high price in Hong Kong. He said that Chinese developers are willing to buy land at high prices. Besides, the supply of land in Hong Kong is limited. Therefore, it is very difficult to find land in Hong Kong that meets the requirements of the Group’s gross profit margin.
Pounds exchange weak housing is still not arrived in the United Kingdom to buy
In recent years, FAR actively fought in overseas markets. Qiu Dachang explained that with the introduction of restrictions on home purchases by the central government and the high housing prices in Asia, the desire of Asian buyers to purchase overseas properties has significantly improved. More importantly, the Group has years of experience in working with overseas governments, Investment in the overseas advantage.
Kong Xiangda, managing director, added that in the future, land reserves will be used to increase the real estate cycle in different markets. At present, the exchange rate of sterling is much lower than that before the Brexit, meanwhile there is a shortage of housing in Britain. Therefore, the United Kingdom still buys land.
In the hotel business, he said that after the privatization of Dorsett Hotels two years ago, the Group invested its hotel assets in car park operations or real estate business and considered the sale of some non-core hotel assets if there is development need in the future.