Citi Survey: Those who agree with home buying opportunities see highs in nearly 9 years
Citibank’s second quarter home purchase survey showed that the proportion of citizens who are optimistic about the future property market will increase sharply. 33% of respondents believe that property prices will rise in the next year, up 17% from the first quarter. Those who expect property prices to fall It also accounted for 33%, but fell 24 percentage points quarterly. 53% of respondents believe that the current time to buy a home is poor or extremely poor; only 11% of respondents think it is a good time to buy a home. This is a slight increase from 10% in the previous quarter, but it is the highest in the past 9 years. ■Hong Kong Wen Wei Po reporter Liang Yueqin
In the second quarter of Hong Kong, the outbreak of the novel coronavirus pneumonia eased. Coupled with the continued low interest rate environment, the demand for residential housing is still in short supply, and the public has regained confidence in home ownership. A survey conducted by Citibank in June this year on the impact of the new crown pneumonia epidemic on people’s home ownership intentions in the second quarter showed that overall home ownership has rebounded in the past two quarters. In the second quarter, more than one-fifth of the respondents expressed interest in buying homes. . Comparing the figures in the first quarter and the second quarter, in the second quarter, the impact of the epidemic on the public’s perception of the property market has been reduced. Respondents expect that property prices at the end of the year will be similar to the beginning of the year due to the impact of the epidemic, and the impact of the epidemic on property prices Only 5% at most.
More than one in five is interested in buying a home
In this survey, Citibank commissioned the Social Science Research Center of the University of Hong Kong to interview more than 500 Hong Kong citizens in the form of random sample telephone interviews. The survey results for the second quarter showed that the housing market sentiment was relatively slack, with important indicators including the timing of market entry, views on property price trends, and the desire to buy a home. Although there is still a considerable proportion of respondents in this quarter that the current time to buy a home is bad/extremely bad, more than 10% of the respondents think that the current time is a good/excellent time to buy a home, which is a slight increase from the previous quarter, and the proportion is still The highest in the past 9 years.
Expected property prices to riseDouble the ratio
As for the trend of the property market, respondents expect that the proportion of property prices rising, remaining flat, and falling in the next year will be very even, accounting for 33% to 34%. Compared with the previous quarter, the proportion of people expecting property prices to rise in this quarter has doubled. The number of people whose property prices have fallen has also decreased significantly.
Li Guizhuang, Head of Retail Banking at Citibank, said that the survey results showed that citizens began to regain their confidence in home ownership in the second quarter. The overall property market sentiment improved. The number of respondents expecting property prices to rise doubled and the property market development gradually returned to normal. Comprehensively evaluate your financial situation and choose the mortgage plan that best meets your needs.