The fifth wave of the new crown epidemic broke out after the Chinese New Year, dragging down the performance of the property market. The Central Plains City Leading Index CCL, which reflects second-hand property prices, recently reported 181.76 points, down 0.71% on a weekly basis, hitting a new low in nearly 11 months, while the four major overall indexes fell for three weeks. The Central Plains predicts that the epidemic situation in Hong Kong will be severe. It is believed that the CCL will test 180 points in the short term and will return to the level in March last year.
The government's new budget, including measures to relax the mortgage insurance plan, increase the mortgage-to-value ratio, reduce or exempt rates, and rent tax deductions, can be regarded as a "small reduction" for the property market, and the number of property inspections on weekends has stopped falling. Centaline said that the top ten housing estates recorded 350 bookings this weekend, ending the two-week decline and rebounding by 7.7% week-on-week. Chen Yongjie, vice chairman of the Asia Pacific region and president of the residential department of Centaline Real Estate, said that the new policy has attracted prospective buyers to speed up their decision to enter the market.
