Bloomberg reports that due to the influence of economic weakness and rising interest rates, Hong Kong real estate developers are reducing the price of new houses to sell vacant houses.
Reported that data from Central Plains Real Estate shows that the third quarter of this year has 2483 new houses in Hong Kong, which is the highest level in the past 20 years.
It is reported that Li Ka -shing's Changshi Group is one of the companies that "earlier new reality" and sold the pro -sea 駅 II project at the lowest price since 2016.This strategy allows the project to be subscribed for more than 30 times.
Yang Wenjie, senior deputy director of the Central Plains Real Estate Research Department, said that the current apartment pricing of Hong Kong Real Estate Company is 10%to 20%lower than the peaks a few years ago.As buyers remain cautious, Zhongyuan Real Estate expects that Hong Kong's new house transaction volume will drop to 11,000 units this year, the second lowest in the past ten years.
Bloomberg Information Analyst Wang Zhenxing said that in view of the high supply, developers are adopting a fast sales strategy."When the financing cost is so high, they have no benefit to hold real estate. For them, it is best to repay the loan or obtain interest from the deposit."Impressions may relax the real estate restrictions launched in the early 2010s.The real estate industry has also called for the cancellation of specific property taxes, including levying 30%of the stamp duty to buyers who do not have permanent residence, and a 15%stamp duty to residents who already have houses.
However, Yang Wenjie believes that new measures may boost market emotions, but will not reverse the market. "If developers want to increase sales, they must reduce the price."
