Large agency banks have released annual forecasts one after another
Following Dade Leung ’s estimate that property prices will fall another 10% to 15% in the first half of next year, another large agency bank, Jones Lang LaSalle, predicts that the prices of commercial buildings, shops, residential properties and rents will fall next year. Small home prices fell 10% to 15%, and luxury home prices fell 20%.
Social movements continue for half a year, and uncertain factors affecting property prices are still there. Zeng Huanping, chairman of Jones Lang LaSalle Hong Kong and head of capital markets, said that
the worsening economic climate in the second half of the year and the unemployment rate rose to 3.1%
Insurance, which once stimulated the property market, is expected to narrow property price growth this year to 1.3%. Zeng Huanping added that small and medium-sized residential property prices have fallen by 2.5%, and the market sentiment is subject to movement. With the introduction of vacant taxes and increased residential supply, the development of new housing prices will be under pressure. The new market pricing will be under greater pressure. % To 15%.
Luxury home prices expected to fall by 20%
Zeng Huanping said that since the past decade was dominated by mainland funds, and the past year was affected by the strict control of capital outflows from the Mainland and the Sino-US trade war, the activity of mainland buyers has weakened, and luxury home prices are expected to fall by 20% in 2020. In the commercial leasing market, Bao Yali, director of the Commercial Department, expects that overall Grade A office rents will fall by 15% to 20% next year, with the traditional core areas of Central, Wan Chai / Causeway Bay and Tsim Sha Tsui having the largest declines.