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Hong Kong Property Market - Yr.2017 Dec: Average price per sq feet $11051 1.15%   (last month:$11179)
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Property price of October hit the record hit, which is 12 successive months

2017-12-01-(Fri)
【28Hse.com】  

Hong Kong Wen Wei Po reported by small and medium-sized residential property prices led the housing prices in Hong Kong in October another record high. According to the provisional figures released by the Rating and Valuation Department yesterday, the index of private residential property prices in Hong Kong hit a record high for the 12th consecutive month in October this year. The index for individual private housing in Hong Kong for the whole month was 342.4 in October, compared with the adjusted figure of 340.6 in September Rose 0.53%, also higher than the adjusted 0.35% increase in September. Property prices have shown signs of acceleration. Hong Kong's property index rose for 19 consecutive months and broke the top for 12 consecutive months. In the first 10 months of this year, property prices as a whole accumulated 11.4% and had risen for 19 months.

In October, the index of private residential rents rose by 0.43% month-to-month, after adjusting for an increase of 0.49% in September. The rent increase has slowed down. Last month, the rent index rose 0.4% month-on-month to 11-month lows, setting a record high for the eighth consecutive month.

On the basis of size, the prices of A, B and C residential buildings in October (respectively below 40 square meters, 40-69.9 square meters and 70-99.9 square meters) were up 0.24%, 0.65% and 0.9% respectively on a month-to-month basis. Except for Type A residential properties, the monthly increases in both categories B and C were significantly accelerated from the previous month.

As for D and E large-unit units (100-159.9 sq m and 160 sq m respectively), property prices in October rose 0.24% and 0.16% respectively, after adjusting for the month, gaining 0.37% and keeping unchanged in September.

In terms of rent, the overall private residential rents rose 0.43% in October, slightly lower than the 0.49% increase in September. The average rent for category A, B and C residential properties rose 0.58% on month, while the rental for category D and E flats dropped 0.85%, marking the first decline in this category since November last year.

Only Tai Hing Kings Lake foot price is not broken million

Hong Kong residential property prices have hit the ceiling for 12 consecutive months so far after breaking the historic highs of September 2015 in November last year. In late May, the Hong Kong Monetary Authority announced the launch of the eighth round of countercyclical measures to further tighten mortgage mortgages for non-first time home buyers and cool some residential units. The impact on property prices is particularly noticeable in the third quarter.

Recently, the one-month HIBOR linked to mortgage repayments rose for five consecutive trading days, rising to 1.00304% Wednesday (29th). The impact of rising interest rates on the property market remains to be seen.

In response to the current state of the property market, Ricardo Real Estate Research Director Chen Haichao said that property price increases could not be stopped and the Price Index for Private Houses announced by the Differentiation Department has risen for 19 months. Compared with the 50 index properties Property prices coincide. Chen believes that if the property prices continue to rise in the future, the average price per square foot still below $ 10,000 estates only Daxing Garden and Kingswood Villa, the average price per square foot will soon break million levels, which means that the 50 index house Estate estates with an average price less than $ 10,000 will disappear from the market.

According to information from Ricacorp, among the 50 target estates, only two estates with an average foot price of $ 10,000 still remained in October, namely Tai Hing Gardens in Tuen Mun and Kingswood Villas in Tin Shui Wai, with an average foot price of 9,865 Yuan and 9,242 yuan. In January this year, among the 50 target estates, there are still six estates with an average price of less than $ 10,000 each and they are all located in the New Territories. As property prices continue to rise, the average price of the first four of these estates is in the middle of the year Has been stationed within the "million households."


Translated by 28Hse.com . All right reserved.