This year’s property market experienced a rise and then a decline
Meridian mortgage referrals interviewed 304 citizens on the prospects of the property market, accounting for 45.4%. It is expected that property prices will fall next year, while steady prices will account for 37.5%, and only 17.1% think they will rise. I believe that because Hong Kong is affected by uncertain domestic and foreign political and economic factors, it tends to be cautious about the law of the property market next year.
The survey shows that 37.8% of people are most worried about the continued social events that will affect the development of the property market next year
while they worry about the economic downturn in Hong Kong and the deterioration of the global economy, accounting for 30.3% and 22% respectively. In addition, although the application of the new mortgage protection measures has increased by nearly 20% in the first month, more than 50% of the respondents who do not own properties will not consider using this high percentage of mortgages to enter the market in the coming year. I believe It is because it is still very difficult or impossible for people with insufficient income to make contributions.
Existing mortgages expected negative growth
The company’s senior vice president, Cao Deming, said that the Christmas and Lunar New Year traditional property market has entered the off-season. Due to the relative lag in the mortgage market, it is estimated that the recovery will take time. About 90,000 cases. As for the number of refinancing cases, it will also fall by 50% year-on-year to about 20,000, returning to the level before 2015.
He also believes that if the political and economic factors improve after the second quarter of next year, driven by demand, property prices will fall behind after a period of time, and with the new insurance policy to play a role, it is expected that 6 million to 10 million properties will be particularly popular.