Due to political turmoil and the Sino-U.S. Trade war and other factors, property prices fell from a high level in the middle of last year
but benefited from the government ’s launch of a new housing policy in mid-October last year, relaxing the guarantee ceiling, and activating small and medium-priced property transactions
After a series of adjustments, property prices will eventually rebound. According to the data of the Bureau of Estimation and Valuation, the price index of private property rose by 1.78% month-on-month in November last year, ending the five consecutive months of decline. In the first eleven months, property prices recorded a cumulative percentage of The increase was 6.87.
The Hong Kong property market stopped falling and rebounded. According to the latest data from the Department of Estimation and Valuation, the price index of private property sales in November last year was 384.1, an increase of 1.78% month-on-month, compared with 377.4 in October last year. For five consecutive months, property prices have stabilized and stabilized for the first time, and have recorded an increase for the first time. At the same time, compared with the same period in 2018, they have recorded an increase of 4.72%. The cumulative price increase was about 6.87%.
Property prices up 6.87% in first 11 months
In fact, dragged down by negative factors such as social movements and the Sino-U.S. Trade war, property prices have continued to decline since June last year. However, thanks to the government’s relaxation of the insurance policy introduced in mid-October last year, the medium- and low-priced properties have been activated. Trading led to a rebound in the property price index. After five consecutive months of decline, the property price rebounded for the first time, reflecting the current signs of recovery in the property market.
Benefiting from the recovery of the property market, the property price index of various units recorded an increase. Among them, E-type luxury homes with an area of 1,722 square feet or more rose the most, and the price index rose to 301, a month-on-month increase of 100. 2.84%, and the increase in the selling price of small and medium-sized units benefiting from the relaxation of insurance is quite good. Among them, the latest index of Type A units with an area of less than 430 square feet is reported at 420. At 8.4, there was a monthly increase of 1.9%, and Type B units with an area ranging from 432 to 752 square feet also recorded a monthly increase of about 1.93%.
Property prices in various units rose
As for the price index of the more popular housing estates, which reflects the market conditions of more than one hundred blue-chip housing estates, the performance has also seen a return, with the latest reported at 3243, which is a month-on-month increase from 38.18.1 in October last year. It rose by 1.95%, and the figure was a stop-loss recovery. Among the various districts, the price index of housing estates in urban and New Territories districts recorded an increase. Among them, the prices of housing estates in New Territories districts increased higher by 2.19% month-on-month. Slightly, the monthly increase was 1.63 percent.
Lin Damin, general manager of Henderson Business (1) Department, pointed out that although property prices have fallen since the middle of the year, the overall market conditions are still stable. In addition, the government introduced a relaxation of the guarantee policy in mid-October last year to activate the trading of medium- and low-priced properties. Make property prices stop falling and stabilize.
Industry: Need to wait and see for another 1-2 seasons
Yang Congyong, general manager of the Jiujian Municipal Marketing and Sales Department, said that the social movement sprouted in the middle of last year, and the Sino-US trade war pinched, which made the property market wait and see atmosphere, but the first-hand property prices remained strong and stable during this period, reflecting the Price still has some support. Yang Congyong pointed out that the government launched a new housing policy in mid-October last year to relax the insurance guarantee limit, which made the medium and small-price housing estates soar once. The transaction, the latest data from the Department of Valuation gave a stable signal to the property market, but whether the property market has resumed its upward trajectory, he believes that one or two more quarters need to be waited before a conclusion can be made.
Lin Haowen, Knight Frank’s executive director and director of valuation and consulting, pointed out that the increase was higher than expected, reflecting the new housing policy, driving the small and medium-sized units to increase their transactions. As the market is still at a low interest rate, the property market is expected to fluctuate sharply. The opportunity is not big, but the slowdown of Hong Kong’s economy will have a certain impact on purchasing power. It is expected that property prices will decline by 5% this year.
Rent index fell for three consecutive months
In November last year, the private property price index recorded a rebound, but the rent index continued to decline. According to the data of the Department of Estimation and Administration, the latest rent index fell by 0.77% month-on-month, and fell for three consecutive months.
After the “peak” of the rent index in August last year, the performance continued to soften. Although the decline in property prices temporarily ended, the rent level continued to decline. According to the data of the Department of Estimation and Administration, the rent index in November last year was reported at 192.5, a month-on-month decrease of 0.77%. Although the decrease was slight, the data has been recorded for three consecutive months. Compared with the same period in 2018, the decline widened to 1.74% year-on-year, reflecting the pressure on private housing rents.