The property market in Hong Kong continues to slump. The founder of Centaline Group, Shi Yongqing, said that the transaction volume of the property market has increased recently. He believes that property prices have bottomed out in the short term and are expected to rebound from the low level.
He also believes that the current economic situation is temporarily stable, and there is no chance of a big rise in the short term, but there will be a chance for a slight improvement. "V-shaped rebound may not exist, but it does not mean that the L-shaped rebound will always be depressed at the bottom, but it may be relatively round. U-shaped rebound".
Shi Yongqing attended the TVB program "Speaking Clearly" and said that with the change of the objective environment, the transaction volume of the property market has increased. In January, it increased by about 30% compared with December last year. The price also rebounded from the low level. It is believed that the property market has "bottomed out" in the short term. The overall atmosphere and buyer sentiment have changed.
Shi Yongqing believes that the loosening of the mainland's epidemic prevention policy means that the economy must be restored as soon as possible to make the economy better. "When you are wrestling with the United States, you can't say that the GDP growth of the United States is higher than yours. You will catch up." When the epidemic prevention affects the fundamentals It will be re-evaluated when required.
Shi Yongqing also believes that there are subtle changes in China's foreign policy, such as leaders traveling abroad to build good relations with other countries, and Hong Kong also needs to find a role in the external circulation of China's economy. I want to aim everywhere."
Shi Yongqing said that with the change of the objective environment, the transaction volume of the property market has increased, and the property market has bottomed out in the short term, and property prices are expected to rebound from the low level.
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The Federal Reserve has a chance to raise interest rates by a quarter of a percentage point on Thursday. Shi Yongqing believes that the current economic situation is temporarily stable, and there is no chance of a big rise in the short term. Compared with the property market, there will be a slight chance of improvement. "V-shaped rebound may not exist. But it’s not that the L-shaped bottom will never be depressed, but it may rebound relative to the U-shaped bottom.”
Goldman Sachs predicts that the customs clearance of China and Hong Kong will drive additional demand in the property market, and raise the earnings per share forecast of real estate stocks. The big winner in the real estate market｜The post-80s rented and bought a car three years ago, now it sells public housing in Tseung Kwan O for 1.75 million, making a quick profit of 4 times. Volume rebounds by 20 to 25%, property prices are stable and land is out of bid｜Analysis: Oversupply is under pressure and ultra-low land prices are more lethal to the property market
