No Hong Kong people flocked into the market for the time being
Recently, the Chinese property market seems to be relaxing. Among them, the Greater Bay Area in the Valley of Policy Forces has more frequently relaxed the restrictions on Hong Kong people to buy properties. According to the latest “Guangzhou Daily” Dayang.com report, the Guangzhou Real Estate Registration Center confirmed that from December 16th, Hong Kong and Macao residents will only need to provide Hong Kong and Macao identity cards and Hong Kong and Macao residents to travel to the Mainland to purchase houses in Guangzhou. And to meet the conditions of homelessness in the country to buy a house, there is no need to provide complicated studies such as study, work, and residence certification. Some people in the industry said that Hong Kong people have recently increased their enquiries about buying properties in the Greater Bay Area, but for the time being, no Hong Kong people have swarmed into the market. Ming Pao reporter Fang Chuyin
In fact, as early as November of this year, the Guangdong-Hong Kong-Macao Greater Bay Area Construction Leading Group Meeting was held in Beijing. Later, Chief Executive Lin Zheng Yue’e announced that 16 new Hong Kong-Hong Kong measures were approved at the meeting, including exempting Hong Kong people from buying properties in 9 cities in the Greater Bay Area limits.
You can buy a house if you meet the domestic conditions
In the past, residents of Hong Kong, Macao and Taiwan and overseas Chinese had three major requirements for buying property in Guangzhou, including the need to provide original proof of work, study and residence in the city;
You must make a written commitment to purchase commercial housing as self-occupied, and no other housing in the country; and purchase a limited group in Guangzhou. Among them, “no house in China” means that there are no real estate in all parts of the country, not just in Guangzhou. According to other mainland media reports, the implementation of the new policy is a practical first step, and guidelines have not yet been issued. Follow-up policies will be interpreted by the Provincial Department of Housing and Urban-Rural Development.
This time Guangzhou has broken the boundaries of the formalities for Hong Kong people to buy a property, but it seems that the impact on the property market will take time to reflect
This paper asked Lai Guoqiang, President of Central China Real Estate China. He stated that the company has already deployed business opportunities for Hong Kong people to purchase properties in the Greater Bay Area, and the current social events in Hong Kong have made Hong Kong people buy in the Greater Bay Area, Guangzhou, Shenzhen and other places. The number of property inquiries has increased, but because there are many differences between Hong Kong and the mainland, such as the mainland still has a restricted purchase policy for Hong Kong people, the purchasing power of Hong Kong people is not great, I believe Hong Kong people will not buy properties immediately, it will take time to reflect demand .
Lai Guoqiang also mentioned that in fact, Hong Kong people should do their homework when they buy real estate in the Mainland, because the rent return of residential properties in the Mainland is not high, only 2% to 3%. In the past, the main force of most Hong Kong buyers was to buy property or keep it for the future. For retirement. Moreover, Hong Kong people are accustomed to Hong Kong-style management. They need to pay attention to the fact that Hong Kong developers have few projects in the Mainland. If they like the Mainland projects, they also need to pay attention to issues such as property management.
At the same time, property prices in Guangzhou and Shenzhen have risen in recent years. Property prices in Guangzhou are not as cheap as Hong Kong people think. Coupled with the large unit area, the difference in total prices also needs attention. At present, some mainland real estate projects can be used as mortgages with the support of the Hong Kong Bank. The interest rate will be lower than that of mainland mortgages. Remittance issues are easier to solve.