Real estate market
Written by: Xu Shihao
2020-02-06 18:48
Last updated: 2020-02-06 18:49BOC Hong Kong (2388) announced that in response to the impact of the new coronavirus-infected pneumonia epidemic, it has proposed five financial service support measures, including an arrangement that will provide property mortgage loans with “interest-bearing but not principal” arrangements. Wong Wing-hing, Managing Director of Lijia Court Mortgage, believes that the measures will have a stabilizing effect on the market, help alleviate the financial pressure on mortgage buyers, ease the further impact of the Hong Kong property market and the overall economy, and play a preventive role.
She said that social events over the past six months, coupled with the recent epidemic situation, believed that it would have a great impact on Hong Kong ’s economy, property prices and the job market. Once there is a wave of layoffs, supply may be cut off. If the property becomes a silver master disk The launch of market auctions will also create a chain effect, which may further impact the already weak property market.
For example, if she still owes a bank loan of 3 million yuan, based on the current interest rate of 2.5%, she will "repay interest but not repay the principal" for 6 months, with a monthly payment of about 6,250 yuan, which is less than the monthly supply of 12,000 yuan, and less Expenditure in the thousands of yuan can effectively alleviate financial pressure on those who are unemployed or have short-term economic difficulties.
Wang Meifeng: Arrangement is a good thing
Wang Meifeng, Managing Director of Central Plains Mortgage, pointed out that if the bank can cooperate with the provision of diversified relief arrangements, it will be a good thing. The epidemic will greatly affect commercial, retail and consumer activities, especially the business plunge of many merchants. Periods can alleviate the pressure of repayment, especially by SMEs, and avoid the risk of sudden cuts in supply during this period.
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Li Ka Court
