The economic outlook for Hong Kong is indeed worrying
The government just announced the retail sales figures for July, down 11.4% year-on-year. The retail industry is indeed bleak. As the demonstrations in August escalated, I believe that the decline this month will be even more serious.
Third quarter GDP must have negative growth
In addition, the situation of the catering industry and the transportation industry is equally dangerous. In the past few weeks, reports of restaurant closures have been seen, and according to professional drivers, income has been reduced by 30% to 40%. The author believes that the negative growth of GDP in the third quarter of this year has been somewhat certain.
The economic downturn, layoffs, and the unemployment rate will inevitably rise
In this objective environment, the Hong Kong property market has also officially confirmed the trend. I believe that you can see in the newspapers in the near future that a large number of price cuts have caused the transaction. Moreover, the price of the price is quite amazing, ranging from 15% to 20%. The most important thing is that many owners who entered the market three or four years ago, it is necessary to smash the goods at the moment. Hong Kong’s property prices have long been deformed, the world’s highest in nine consecutive years, becoming the most expensive city in the world.
The main reason is that the housing policy mistakes of the year, especially the suspension of public housing and HOS flats, forced the grassroots people to be forced to rent private buildings, and they were forced to pay for their rent. On the other hand, in the supply policy, a very ridiculous situation has been created, that is, the dominance of housing supply is given to real estate developers. The interests are at stake, naturally it is hoarding and arrogant. Hong Kong is not without land. The Hong Kong property market is not in short supply. It is because the land is hoarding in the hands of developers. It is constantly hoarding and controlling the supply from the “squeezing toothpaste" style. The property prices seen by everyone are soaring. It is just an illusion of hoarding.
“It’s going to rain, the mother wants to marry." It’s always coming! The needs of the future citizens will soon be met