The property market has been steadily rising in the first half of last year
However, since the second half of the year, Hong Kong’s political and economic situation has changed, which has dragged down the property market last year. Country Marketing Director of the Hong Kong Marketing Management Department Lin Xiaozheng said in an interview with this newspaper that rigid demand in the property market is still strong, coupled with the continued tight supply of private residential land in the short term, developers need time to find land and build houses, and supply and demand are still unbalanced. There will be volatility in the price, but only slightly. The two negative factors of the social movement and the new pneumonia epidemic are believed to only temporarily affect market turnover.
In the second half of last year, it was entangled by negative factors of social movements and the Sino-US trade war. The market was full of anxiety about the market outlook and wait-and-see mood, resulting in a slowdown in trading volume and a lot of purchasing power in the market. Lin Xiaoyue pointed out that the beginning of the new year, the social atmosphere has improved, and China and the United States have also signed the first phase of the agreement. The purchasing power that has been hoarded for many months has been released again. It can be seen that the market’s trading volume has rebounded in recent months, reflecting the buyer’s Demand has always existed, but it is only because of the uncertain factors in the previous property market that it has chosen to delay entry.
Gradually release purchasing power
In addition, Lam continued to say that it is expected that private housing and land supply in Hong Kong will continue to be in short supply in the next three years, and the government’s proposed land requisition and tomorrow’s Lantau plan are long-term plans that are difficult to implement in a short time. From the perspective of supply and demand, The public just needs to be strong, coupled with the declining supply of private housing, they believe that the property market will develop steadily this year. Although Hong Kong is still affected by social movements and there are signs of the spread of the new pneumonia epidemic, Lin Xiaoyi believes that the above-mentioned negative factors will only temporarily affect the market turnover during the period. Even if the property market is adjusted, property prices will only show slight fluctuations. I believe the overall property market will develop flat this year.
Relaxing Press Guarantee to Drive Property Market
Lin Xiaozheng also believes that the government announced in mid-October last year the relaxation of the guaranteed property price ceiling, which will help some buyers, especially renters, to get on the car, and revitalize the second-hand market, which previously failed to undertake a high percentage of mortgages, to stimulate the property market. The transaction of second-hand properties with a price of less than 10 million also indirectly promoted the property exchange activity and the primary market to undertake.
Demand for nanodisks falls
At the same time, property prices and personal contribution ability are the priority factors for many buyers to consider entering the market. After the government launches a new mortgage, it will help the public to get on the car, so that units below 10 million can also take up to 80% of the mortgage, making the same first-hand mortgage Buyers in the current budget can increase their choices and are no longer limited to small units. It is believed that buyers’ demand for nanometer buildings will be reduced. It is expected that the price of units of this type will be under pressure. On the other hand, since the launch of new property mortgage dragging, the market exchange chain has been significantly activated, and more than ten million high-quality listings have also been sought after by buyers. After reflecting the new mortgage measures, the overall property market turnover has been good. I believe that the property market this year There will also be no significant decline.
Helps drive the exchange chain
Lin Xiaodi revealed that he had exchanged views on the market with many friends around him. Most of the friends bluntly said, “If a city falls back, it will decide to enter the market.” I believe that many buyers in Hong Kong have the same idea, reflecting the current market buyers. Generally, there are abundant funds and certain home ownership capacity.
There was a slight correction in the property market in the second half of last year. With the stimulus measures to relax the insurance cap, the transaction volume in the second-hand market is notable. It can be seen that buyers have strong acceptance and coupled with the limited supply of private housing in the short term, property prices are not expected to be large this year. Down with occasional slight volatility. In addition, Lin also pointed out that the current Hong Kong banking system is stable, the proportion of bank borrowing is relatively low, and the low-interest environment is more likely to continue for a period of time. Considering various objective factors, I believe that it is currently difficult to cause the sharp decline in property prices.
Optimistic about luxury market
The government is expected to officially implement the vacancy tax this year. Lin Xiaozheng said that because the luxury house is slower than the small and medium-sized units, the vacancy tax will affect the future supply of the luxury market. As many luxury buyers will not decide whether to buy the unit until the current stage Lin predicts that if there is a tender for luxury residential land in the future, it will reflect the relevant impact of vacancy tax on developers ’intention to invest in land. However, he always believes that Hong Kong lacks high-quality land supply, and believes that developers will still actively absorb high-quality land, such as earlier Land in the big tunnel, but the market will increase consideration of land investment due to the implementation of vacant taxes.
Due to the scarce supply of luxury homes, “there is not much expensive,” Lin’s is optimistic that luxury buyers have a strong commitment to the luxury home market, even under the haze of vacant taxes, they are still high on the luxury market.