10月份一手成交量近3000宗，较9月份升3倍。二手方面，由中原地产促成的二手成交宗数较9月升85%，证明减息加上有利楼市政策出台，成功令物业市场成交量激活。Chen Yongjie expects Hong Kong property prices to stop falling and rise 3% to 5% in the fourth quarter.
The Zhitong Finance App learned that on November 7, local time, the Federal Reserve cut interest rates by 0.25% as expected by the market. Bank of China Hong Kong and HSBC also announced interest rate cuts of 25 pips, adjusting the HKD best interest rate from 5.625% per annum to 5.375%. Chen Yongjie, Vice Chairman of the Asia Pacific Region of Central Plains Real Estate and CEO of the Housing Department, said that in the past two months, the central government has vigorously rescued the market, and mainland property market transactions have skyrocketed, which has also brought benefits to the Hong Kong property market. Hong Kong has removed all the tricks of the property market, and all foreign capital is welcome to invest in the Hong Kong property market. Coupled with the support of simultaneous interest rate cuts in Hong Kong and the US this time, it will add momentum to the Hong Kong property market. It is expected that Hong Kong property prices will stop falling and rise by 3% to 5% in the fourth quarter.
Chen Yongjie said that the last round of US interest rate cuts, along with the introduction of the central government's combo punch and the relaxation of mortgage measures in the Hong Kong Policy Address, caused prices to rise steadily in the Hong Kong property market in October. HSBC just announced a 0.25% reduction in the best preferential interest rate to keep up with the US reduction, which brought a surprise to the market. I believe that the simultaneous interest rate cuts between Hong Kong and the US can give a new round of boosting to the Hong Kong property market.
The volume of first-hand transactions in October was nearly 3,000, a threefold increase from September. On the second-hand side, the number of second-hand transactions facilitated by Central Plains Real Estate increased 85% compared to September, proving that interest rate cuts and the introduction of favorable property market policies have successfully boosted property market turnover.
As for property prices, there are also signs of stopping the decline. In October, the Central Plains City Leading Index recorded three increases and one drop. Compared to before the US interest rate cut last week, the index recorded only a slight decrease of 0.2%. Chen Yongjie pointed out that the rise in property prices has always been slower than the volume of transactions, and the stop falling and rising slowly in property prices will allow the property market to develop more healthily.
