Bank stops doing Manqiao off-plan mortgage

28Hse Editor  2021-09-16  #New Properties
Li Jianming, director of the Hong Kong Valuation and Advisory Services Department, said that in terms of property prices, overall residential property prices have risen by 4.3% year-to-date, and are expected to surpass the peak in May 2019 in a short period of time. Among them, the average property price of Shatin City One has reached a record high , Taikoo Shing also rose 2.5% quarter-to-quarter.

As for luxury homes such as Bel-Air Bay, they have recorded an increase of nearly 15% since the beginning of the year, which is less than 3% from the high property prices.

As for the outlook, Li Jianming also said that the property market needs time to accumulate purchasing power, and the end of the year is the traditional mortgage off-season. Banks usually do not actively compete for business. It is expected that the transaction volume in the fourth quarter will continue to develop steadily. Li Jianming estimates that there will be about 8,900 potential primary supply in the fourth quarter of this year, many of which are large-scale real estate, which will guide the development of property prices. The bank estimates that property prices will rise by 8% to 10% throughout the year, and there is about 3% room for increase in property prices before the end of the year.

In addition, Knight Frank also announced yesterday the "Global Property Price Index" for the second quarter of 2021, comparing the performance of the general residential market in 55 markets around the world. Under the new crown pneumonia pandemic, in the past year to June 2021, 55 countries And the property prices in the region rose by an average of about 9.2%. Among them, property prices in Hong Kong increased by about 2.6% year-on-year in the second quarter, and also increased by about 2% quarter-to-quarter.

As for mainland property prices, the second quarter also rose by about 4.3% year-on-year, but only increased by about 1.4% quarter-to-quarter. Singapore and South Korea only rose about 1.1% and 1.4% respectively on a quarterly basis. Hong Kong performed better than the Mainland, Singapore and South Korea on a quarterly basis.

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