The epidemic of new coronavirus has not subsided, and the market is concerned about the potential impact on the property market in Hong Kong
It is estimated that the fluctuation of property prices in Hong Kong in the first half of the year will be about 5%, and the transaction volume will be relatively stable. There may be a slight increase in property prices in the second half of the year.
As for new projects this year, Huang Guangyao pointed out that the Group may launch three to four projects this year, including Sunrise Cannes Phase 9C, Lantian Qianfa Road Project, and Mutai Street Project in Kaide District, of which Sunrise Cannes The 9C phase is expected to be launched as soon as possible in the first quarter, while the Lantian Qianfa Road project will be launched in the second quarter.
Wheelock announced earlier that it would lend 500,000 square feet of land to non-profit-making institutions for the development of transitional housing
However, it was reported that the relevant land had been rejected by the Town Planning Board for rezoning and was questioned as using the borrowed land to “walk through the back door”. Huang Guangyao responded that the leasing of land involved procedures for approval, emphasizing the principle of not affecting the ecological environment for development, and that the leased land would be handed over to non-profit organizations for operation.
Huang Guangyao added that transitional housing is only a short-term measure
At present, Hong Kong needs 31,000 housing supplies each year. In addition, it is expected that the supply of private housing in Hong Kong will decrease, which is much lower than market demand, which will give rise to rising prices. Only by actively developing land resources can we meet the demand.