Emphasize that non-reducing spicy help the lack of first-time young people on the train
Hong Kong Wen Wei Po Daily News (Reporter Su Hongqiang) Property prices have risen steadily. The Financial Secretary, Chen Mao-bo, said yesterday that property prices have exceeded the affordability of the general public. The burden-to-floor ratio has risen to 68%. He emphasized that it would launch a subsidized sale of flats at a big discount to the market price at an appropriate time to help young people purchase flats. At the same time, it will study the timing of easing mortgage rates but will not misunderstand it as a spicy act to fuel the property market. At present, as property prices rise, applicants who can apply for 90% mortgages to put flats under 400 million for sale are close to extinction. According to market participants, relaxing mortgage loans can help young people who have the ability to contribute but not enough for the first time to get on the bus.
Speaking at the Legislative Council meeting yesterday morning, Chen Mao-bo said overall property prices in November last year have been about twice as high as the peak in 1997. The proportion of household-to-household income in the third quarter of last year has further deteriorated to 68%, much higher than in the past two decades 45% long-term average. He described the property prices now exceeding the affordability of the general public. If the increase in interest rates would increase the burden on contributors, the situation is indeed worrying. Assuming a rate increase of 3%, equivalent to a rate hike of 12 (0.25% each time), the contribution ratio will reach 88%, higher than in 1997.
Fell up mouth supply and demand gradually reversed
Chen Mao-Bo mentioned in particular that the fundamental factors of the property market have changed, including that the U.S. interest rate has risen five times so far by 125 basis points. Under the linked exchange rate system, the interest rate in Hong Kong will eventually increase in line with the U.S. interest rate. In the meantime, the government has been increasing The imbalance between supply and demand of residential land and housing will be gradually reversed. In FY2017 to FY2018, the number of private buildings to be built may reach 24,300, exceeding the provision target of 1.8 for the whole year35%, the potential supply will be maintained at a high level in the next 3 to 4 years. He reminded members of the public to be careful about all potential risks before making a home-purchase decision, especially to gauge the impact of rising interest rates on the ability of individuals to contribute.
At the meeting, members were asked whether they would reduce spicy food to help people get on the bus. Chen Maobo said he learned that some young people who are interested in home ownership may suffer from a lack of first phase despite their ability to supply buildings. However, the authorities do not want to make the community misunderstood. "Do not want the market to ease misunderstanding and distort the government and help fuel the spirits." Once the adjustment of market conditions has impacted the people concerned very much,
A big discount will be given to subsidized housing
In the meantime, Mr Chan also quoted the policy address as saying that starting from subsidized housing, to help alleviate the demand for home purchase. In particular, it will target first-movers. The Administration will introduce at a suitable time a big market-price sale of subsidized housing and mortgage-backed housing Plan to reduce the first phase of the burden. As to whether it will further restrict the purchase of flats by overseas residents, Mr Chan said the current spicy move has been effective and will continue to monitor the market.
Property price broken by the policy lag
On the government to relax according to Paul Cheng, meridian mortgage referral market director Liu Yuan said that the current property prices continue to break the roof, the property below 4 million only ninety percent of the mortgage contract has become outdated measures, the government relaxed according to Paul Cheng number, I believe Help families on the bus and property changers to stimulate real estate transactions and speed up the turnover.
Liu stressed that since 2009, the government started to implement the property market supervision measures and cut down the mortgage ceiling. Subsequently, the permit companies suspended the application of more than 90% of mortgage loans. The loans related to the mortgage insurance plan accounted for the proportion of loans approved by the government From a high of 44.29% to 20.21% of November 2017, I believe if the government relaxes its policy of increasing pawn yields and market demand increases, the figure can rise to 40%. However, she thinks the government should carefully define what is a first-mover, or need to meet the conditions of transfer restrictions so as to prevent it from becoming one of the channels for investment so as to make property prices even more hot.
Centaline Asia Pacific Vice President and Housing Minister Chen Yongjie also said that in recent years, new real estate generally provide high mortgage discount and a wide range of payment methods, so that the passenger side of the heavy traffic to the primary market. If the government to relax according to Paul Cheng, I believe will attract a lot of passengers on the return of second-hand market property market. In addition, relaxation of the CPIC number can help first-time buyers lose their first term of "easiness" and truly play the role of the mortgage insurance scheme. If the plan is implemented, I believe it will not stimulate the property prices to go up.