Real estate market
Written by: Lin Leqian
2020-04-29 10:48
Last update date: 2020-04-29 10:55The New Coronary Pneumonia epidemic shows signs of easing, and property prices have turned from falling to rising. The Rating and Valuation Department announced that the price index of private residential units in Hong Kong was reported at 375.3 in March, which was an increase of 0.42% month-on-month from the 373.7 index in February, ending a three-month losing streak.
If divided by the area of five types of units, small and medium-sized units recorded a larger increase. Type C units (753 to 1,076 square feet) rose 0.94%, while Type A small units (under 430 square feet) and Type B units (431 to 752) Square feet) were 0.43% and 0.25% respectively.
Large units fell, with Class D units (1,076 to 1,721 square feet) and Class E units (1,722 square feet or more) falling 1.29% and 0.33%, respectively.
In terms of the rent index, the March rent index reported 182, down 1.9% month-on-month, and down 4.1% in the first quarter.
Lin Haowen (left) believes that the property price index does not reflect the true impact of the epidemic situation, and does not mean that property prices have stopped falling and rebounded. I believe the housing market adjustment period is still not over. (Provided by the interviewee)
Analysis: The property market adjustment period is still incomplete
Knight Frank, executive director and head of the valuation and consulting department, believes that the property price index does not reflect the true impact of the epidemic, and it does not mean that property prices have stopped falling and rebounding. I believe that the property market adjustment period is still not over. He expects that in the next one or two months, the transaction volume will pick up, and buyers will want to "clear the goods". The transaction is mainly for small and medium-sized units below 10 million yuan. It is estimated that the bargaining space for luxury home owners will be relatively large.
He predicts that economic data shows that Hong Kong is entering a recession, coupled with the impact of the epidemic, the future economy will deteriorate and the unemployment rate will rise, which will eventually affect the purchasing power of the property market. This year, the residential property market will still be adjusted downwards by about 10%, and developers will After May 1st, one after another, the main force is small and medium-sized units with a total of less than 10 million yuan.
Centaline CCL reported a weekly increase of 0.47% at 175.68 points, a new 8-week high
The differential price index of the Department of Home Affairs fell 3 in a row and returned to 370.7 in February
The difference between the property price index and the two consecutive declines in January fell 0.18%. The rent index fell for five months.
Property Price Index of Private Property
