2024-05-28 28Hse Editor
Hong Kong's property market has been affected by the epidemic, prices and volumes have plummeted for consecutive months, and the market has even experienced a loss case. The blue-chip housing estate Mei Foo New Village recorded a loss case. The original owner presided over the property4 The annual book loss made 300,000 leave the market. An agent bank conducted a questionnaire survey at the end of last month and found that as many as 75% of the respondents were bearish on the prospects of the property market, a record high in two years. Bu Shaoming, CEO of Midland Realty's Residential Department (Hong Kong and Macau), said that property prices in the first quarter will fall by about 3% due to the impact of the epidemic. 5%.
75% of respondents are bearish on the property market
Midland Realty and Meridian Mortgage Transfer conducted an online questionnaire survey at the end of last month, and found that 75% of the respondents were bearish on the prospect of the property market, which was 34.5 percentage points higher than the 40% recorded in a similar survey in October 2021, and the proportion hit a new high. A two-year high, Bu Shaoming said that both property owners and buyers are bearish on the property market prospects under the epidemic. It is expected that property prices in the first quarter will fall by about 3% under the influence of the epidemic. The new quarterly low after the regulation; the second-hand estimate is about 8,000, down nearly 30% quarter-on-quarter, the lowest in more than three years.
Bu Shaoming said that the recent volatility in the stock market has also affected the market sentiment for property buyers, adding downward pressure on property prices. As for the possibility of a nationwide quarantine order, he said that it will have a more direct impact on the property market, because it will affect the inability to carry out buying and selling transactions. However, once the epidemic is brought under control and market confidence is restored, it is estimated that the first-hand transaction in the second quarter will still rebound to About 2,500, and second-hand transactions are estimated to have risen to about 9,000. For properties of 10 million to 12 million yuan benefited from the relaxation of mortgages, the annual transaction volume has doubled from 3,300 last year to 6,600 this year.
The questionnaire asked about the purpose of the respondents to enter the market. Only about 17.2% of the respondents said that they are "investment", a sharp drop of 23.5 percentage points compared with the survey in the middle of last year, and the relevant proportion has reached a new low since the survey. The results show that the proportion of investors The obvious decline reflects that the current market entrants are mainly "getting on the car for their own use" and "changing buildings". When asked "Which external factor most affects the decision to buy a home", 29% chose "epidemic development", the highest proportion of the choices; 22% chose "economic prospects", followed by "" Future housing supply”, accounting for about 13%.
Bu Shaoming also mentioned that Hong Kong has a number of strong purchasing power. Compared with the mainland property market, the Hong Kong property market has favorable factors such as low initial phase, low interest rates, attractive exchange rates and loose housing policies. It is believed that mainlanders will come to Hong Kong to buy properties after the epidemic. , the property market is expected to show a "V-shaped" rebound at that time, and the annual property price is still expected to rise by 5%. The bank also pointed out that the Hong Kong property market has become more attractive to mainland buyers since the government announced the release of mortgage insurance in the new financial plan. an increase of about two percent. While mainlanders generally inquired about Kai Tak District, they also inquired about Kowloon Station and"Northern Metropolis", etc.
Mobil cut prices and lost 300,000 to leave the market
Under the downturn in the property market, blue-chip housing estates are also "suffering". Mei Foo New Village in Lai Chi Kok recently recorded a loss-making transaction. Feng Jianping of Centaline Real Estate said that Meifu New Village recorded the first transaction this month. The unit is Room B, high-rise, No. 91 Broadway Street, Phase 4, with a usable area of 716 square feet. The owner originally asked for 9.5 million yuan. The usable square foot price is 12,570 yuan, and the new buyer is a new buyer in the same area.
It is understood that the original owner purchased the above site for 9.3 million yuan in March 2018 and held the goods for 4 years, but the book loss of 300,000 yuan left the site this time, and the loss is expected to be higher after taking into account other fees.
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