Cheung Kong's Zhao Guoxiong expects property prices to rebound by 5% in the second half of the year

Financial News

Written by: Zhang Weilun

2020-06-19 11:51

Shi Guo (1113) Executive Director Zhao Guoxiong said that at the beginning of the year, property prices are expected to increase or decrease by about 5%. In the current situation, a decline of 5% to 7% is seen. However, Hong Kong is in a low interest rate environment, and it is difficult to repeat the situation of the financial turmoil and the price cut. He clearly did not see any negative factors currently affecting Hong Kong's economy, so he was optimistic about the situation in the second half of the year and property prices would rebound by 5%.

Asked when the unemployment rate rose to 5.9% in May, affecting the purchasing power of the property market. Zhao Guoxiong expects that the unemployment rate will rise slightly in June, but the rate will not be too large. In addition, the government has launched a job guarantee program, and the unemployment rate is expected to rise to about 6%, which will drop in the third and fourth quarters of this year. I am not worried about Hong Kong's economy in the second half of the year, but will remain vigilant.

Zhao Guoxiong also said that he is currently applying for the pre-sale consent for the Sha Tin Jiutu Mountain project. The project is expected to be launched at the end of the third or early season of this year. The project located in Bolao Road is in full swing, and has contacted agents for soft sales.

Expect the mall atmosphere to resume after the summer vacation

When talking about the market of shopping malls, Zhao Guoxiong said that the atmosphere of shopping malls will be restored after the summer vacation. He believes that the economic vitality of shopping malls is still there. Hong Kong people like to consume, and he is also optimistic about the prospects of Hong Kong.

As for the office market, Zhao Guoxiong stated that he was most affected by the epidemic. During the epidemic, companies from all over the world encouraged work from home, thinking that it would reduce the demand for office buildings, and the mode of using office buildings would change accordingly. It is not necessary for all employees to return to the office to work.

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