[Hong Kong version of National Security Law] Midland Shaoming: Rigid demand continues to expect long-term support from property market

Real estate market

Written by: Xu Shihao

2020-05-28 20:40

The National People's Congress has passed the draft of the "National Security Law for the Port Area," and the international community is concerned about whether Hong Kong can enjoy a high degree of autonomy under one country, two systems. US Secretary of State Pompeo believes that Hong Kong no longer enjoys a high degree of autonomy and therefore no longer guarantees Hong Kong ’s special treatment before its return in 1997. According to foreign reports, Washington is considering suspending special tariff treatment for Hong Kong's exports to the United States.

No visible impact on the property market and stock market

The chief executive officer of Midland Realty and Housing said that after the news came out, the details of the relevant US policies and measures have yet to be implemented, and this is a "double-edged knife." Together with the trade war, it will also have an impact on the US economy, so I believe that the United States No immediate action will be taken, and there is no obvious impact on the property market and the stock market in Hong Kong.

He said that it is more worthy of attention, because the purchasing power condensed by the epidemic situation has also been released recently, and many new discs have been sought after by buyers. At a new high, more than 2,200 units will be recorded throughout the month.

Short-term psychological impact

Bu Shaoming pointed out that in the past, political and economic factors may have caused market volatility, which is generally a short-term psychological impact. Individual buyers or owners will have a wait-and-see mood, but the benefit of mortgage interest rates continues to be low. In addition, many people are worried about the depreciation of silver paper, so they still prefer to buy properties for self-use and investment preservation. In the context of persistent rigid demand, the property market is still supported in the long run.

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Hong Kong version of the National Security Law