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Relaxing residential mortgage loan conditions, resolving the issue of 'subdivided units', the Hong Kong property market welcomes multiple major bullish factors.
①"Relaxing mortgage restrictions has indirectly reduced initial expenses, lowered the entry threshold, and removed mortgage restrictions based on property prices or usage. It is believed that this measure will attract market demand and foreign capital back to the Hong Kong property market." ②" It is expected that the number of first-hand property transactions in October may reach 3,000 units, potentially hitting a new high in nearly 7 months, and property prices are also expected to stop falling and rebound in the fourth quarter."
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Property mortgage applications in Hong Kong decreased by 50% month-on-month in August, reaching a 4-month low.
Cao Deming said that the cooling effect did not continue, and the pace of developers' new launches has slowed in recent months, leading to a decline in both primary and secondary market transactions. In addition, the lack of large new property launches has contributed to the monthly decline in the number of existing building and presale cases in August.
Ricacorp Properties: There were 2,558 transactions for second-hand private residential properties in Hong Kong last month, with a stable market. The market is expected to remain under pressure and shrink in the future.
Chen Haichao, head of Lijiagge Real Estate Research Department, said that the cooling effect of the Hong Kong property market has been offset by the high interest rate environment, and the second-hand market is still unlikely to improve temporarily due to the new low-priced properties competing for customers. The market is expected to remain under pressure and stagnant.
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