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Mortgage Hotline: first half year review


Liu Yuanyuan Meridian Mortgage referral chief economic analyst

The first half of 2016, global political and economic instability, and the two stock market volatility of the lack of a way out of funds, property prices in Hong Kong after several months of adjustment, showing a certain resilience. The mortgage market is highly competitive, after the first quarter of the property market in the winter, local banks have cut mortgage rates by 1.7% H plus gradually reduced to H plus 1.5 cm in the first year is also given by the low of 1.75%. Although second-hand housing turnover than the New Year's Day SARS downturn, but the second quarter, a gradual return to market confidence in buyers, prices go up again.

New loans drawn down nearly forty percent

While there is not follow the United States late last year to raise interest rates, but the first quarter of the frozen property market situation, except No major new projects should be outside the city, second-hand buyers were generally on the sidelines until the second quarter, prices accumulated a certain decline after buyers began to respond to market confidence. According to the HKMA residential mortgage survey data, summarize the first five months of this year, new mortgage loans drawn down a total of 64.098 billion HKD was recorded and 20,070 cases of greatly reduced by 39.4% and 37.8%, respectively, the cumulative number of cases since 1997 there are record lows; and the new batch of the first five months of mortgage loans in greatly reduced by a total of 35.7% to $86.508 billion, the number of cases has dropped 34.4% to 26,276 cases, and the amount of the cumulative number of cases was 13 years and 9-year low. Summed up the first half of 2016, the mortgage loan before or after stabilization, expected that the new mortgage loans drawn down only the amount of 79.1 billion yuan, compared with 1,250 one hundred million HKD in the first half of last year, down nearly forty percent then.

Although last year to switch to the purchasing power in the price of property, the proportion of such mortgage loans to promote a new high. But Meridian Mortgage referral Research Department figures seen property prices divided by customer purchases, as prices continued to fallOn the half Penny property (from 2 million to 5 million yuan) this year, has sought to regain the buyers, their mortgage loans increased from 36.6% in the first half of last year, picked up 14.3 percentage points to 50.9%, while the price on the property (500 million to $ 10 million) decreased by 11.5 percent yoy to 36.4%. As the proportion of the property over a thousand million also fell to 8.9%, of which 2.6% is more than $ 20 million property.

Mainland stock market rebounded off ratio

Since the Hong Kong property prices continuing to rise since 2009, plus stamp duty limit non-resident passengers to buy property, so that the sharp rise in the cost of entry, mainland visitors would prefer to lower the water treasure hunt overseas property market. But according to Meridian Mortgage referral Research Department data show that, with prices from highs of more than one percent, plus push new real estate tax concessions (such as buyer stamp duty (BSD) rebate), and the continued depreciation of the renminbi and other factors began to Mainland off the market in the first half of this year the proportion rose to 8% (prices fell 4.3% during the period tired), in addition to have been moving up for three months beyond, is also a half-year high after the second half of 2013, reflecting market sentiment mainland visitors increase, while in May the purchase price of the property on mainland visitors accounted for 47.2%.

Translated by 28Hse.com . All right reserved.