Property prices rebounded in November last year. According to the latest data from the Department of Estimation and Valuation, property prices rose by 1.78% during the period and stopped the five consecutive declines, but rents were still downward, falling by 0.77% on a monthly basis, and falling for three months
Rents dropped 0.77% month-on-month
Among them, luxury units fell the most, while rents for small and medium-sized units were more supportive, reflecting the downward trend in the economy, and luxury demand slowed first
Rental returns are an important foundation to support the property market’s resistance to decline. If the downward trend continues, property prices will be further pressured, and the rebound of the property market at the end of last year will be short-lived. Recently, low-price transactions have dominated the property market. In fact, the rental market has also experienced similar conditions. Regardless of the size of the housing estates and the new occupancy, the rents have been reduced from high to high. Cases in which the new occupancy is an example. Entered the market during the period of 18 to early 19, and until the recent entry into the economic downturn cycle, the rent is far from the original estimate, coupled with the increase in the supply of similar leases, the owners have reduced their rents, and many rental units have fallen below or hovered at 2%. Level.
Rate of return hovers
Owners’ mortgages often need to subsidize the price difference and increase the selling pressure. Even in large housing estates, many of them have reduced their rental expenses in the lingering unemployment haze. First, luxury house rents are the first to be felt. Pressure, followed by medium-sized units, if the local economy is not stable, this downward trend in rents will intensify