The Royal Institution of Surveyors said that the spread of property prices in the United Kingdom in November was minus 12, which was the lowest since April, and the market had originally estimated to maintain minus 5 in October
Property prices in the UK have fallen the most in 7 months, mainly because of the uncertainty surrounding Brexit and the election, which has plagued the property market. The survey shows that home buyers and owners are on the sidelines.
In fact, since the Brexit referendum in June 2016, the rise in London property prices has slowed. Market analysis believes that luxury property prices in central London have begun to decline after reaching a high level in 2014. Coupled with uncertainties in British politics and earlier government announcements to increase stamp duty, buyers are more cautious.
However, London’s high property prices and sound legal system have always been a place where many foreign billionaires are optimistic about investing and keeping their wealth
An academic study cited by the Conservative Party in November pointed out that between 2014 and 2016, 13% of new homes in London were purchased by non-residents; a measure had been proposed to levy non-residents who bought British properties A 3% stamp duty on the value of the property will prevent foreign investors from pushing up prices.
Private property sales in Hong Kong continue to flourish
As for the Hong Kong property market, a total of 2,091 first-hand private residential property sales registrations were recorded in Hong Kong in November this year, involving a total registered value of 19.673 billion yuan, the highest in six months. At the same time, in the first 11 months of this year, a total of 20,242 first-hand private home sale registrations have been recorded. This is the first time since 2004 that the level has exceeded 20,000 a year, and has also reached a new high in 15 years.
As for second-hand buildings, there were 2,946 second-hand private residential sale and purchase contracts registered as of November 27, with a total value of 23.28 billion yuan. It is estimated that the number of cases will reach a 6-month high and the amount will be a 5-month high. In the first 11 months of 2019, there were 33,174 second-hand private residential property sales registrations, with a total value of 292.84 billion yuan. It is estimated that there will be approximately 35,500 cases and 310 billion yuan in the whole year, a year-on-year decrease of 8.5% and 5.8%.