The Hong Kong Special Administrative Region Government "reduced spicy" (relaxation of partial sales restriction measures) for the residential market at the end of last month, but no resistance to property prices continued to fall.Some interviewed people expect that the Hong Kong Government may "withdraw" a new fiscal budget in February next year in February next year.
When the Hong Kong Chief Executive Li Jiachao attended the media before attending the Executive Council on Tuesday (November 14), he did not respond to whether it was planned to further "withdraw". It only reiterated that the "reduction of spicy" was the healthy development of the property city.Don't make up and down, let citizens know the direction of the policy, and make judgments on their own.
Li Jiachao believes that the market still needs time to adapt to "reduction".He said: "The environment of the entire property road is affected by the global economy, especially high interest rates. This is the pressure and challenge that Hong Kong and other economies have faced. Of course, buying a house is a big decision. After everyone is inquiring, everyone is inquiry.It will take some time to consider according to the current actual situation of Hong Kong.
As for the bidding of residential land a few days ago, the first "zero -entry bid" in 10 years has appeared in the past 10 years. Li Jiachao pointed out that there were many supply in some regions in the past. I believe real estate developers have made a full consideration.He said: "When any real estate developer considers bidding, in addition to the location, it will also consider what the overall and the development of the entire property market will be like."
Hong Kong's property prices have continued to decline in recent years, and it has fallen nearly 20 % so far, becoming a potential instability of society.At the end of last month, Li Jiachao announced the launch of three "spicy" measures in the property market in the policy report, including shortening the applicable period of additional stamp duty from three years to two years; the tax rate for buyers' printing duty and new residential stamp duty was half to 7.5%; in addition, in addition,The property stamp duty of foreign talents has been changed from "first levy and then retreat" to "exemption and then levy."
After the "reduction of spicy" in the property market, the recent transaction volume of the Hong Kong property market has increased slightly, but property prices still fall.The Central Plains City Leading Index (CCL), which reflects the announcement of the Policy Report before, has the latest report of 153.59, a weekly decrease of 0.05%, and returned to the level of April 2017.The Central Plains Real Estate Group, which is responsible for the investigation, said that although the decline in property prices has narrowed, the decline has not stopped.
Many real estate industry and related institutions believe that the Hong Kong government has "reduced spicy" to reverse the downward trend of the Hong Kong property market.Among them, the international rating agency Standard Purcell issued a report, and it is estimated that Hong Kong property prices will fall by 5%to 10%next year to reflect the weak local economic growth, rising interest rates and excess supply, which will pressure the market.Once the US interest rate has stabilized for a long time, the decline in property prices in Hong Kong is likely to reach 20%, and the prediction of property prices this year from 5%to 8%will be adjusted to "flat to 3%."
The Hong Kong Ming Pao wrote on Tuesday that due to the limited stimulus of "reducing spicyness", the business demanded further "withdrawal" sounded again.The article quoted the industry insiders that the current demand for property malls is weak. At first, the Hong Kong Government's demand management measures launched by demand to suppress demand have no basis for existence.The best time to "withdraw spicy" is in the downward stage of the building, because once the building rises, it means that the demand is rising, and it will be more difficult and lack of reason to "withdraw spicy".Chen Maobo, the director of the Financial Secretary, will release a new budget in February next year. It is expected that it will begin to consult at the end of the year. It is estimated that the industry will once again issue a "withdrawal" call.
Shao Zhiyao, a senior investor in Hong Kong, pointed out in an interview with Lianhe Morning Post that after the policy report announced "reducing spicy", property prices still declined because the overall economic atmosphere is currently weak.It is not attractive to the market.
Shao Zhiyao pointed out that the Macau government has also announced the "reduction" measures, which is stronger than Hong Kong, including the cancellation of 5%stamp duty in the second house.Due to the serious fortune of the Hong Kong Government's library, he believes that a new fiscal budget will completely cancel the "spicy trick" next year, but the role of boosting property prices is still not great.
