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The transaction of second-hand houses in Hong Kong is slowing down, and the CSI has once again fallen below the 50-point threshold.
Yang Mingyi, Senior Joint Director of the research department of CRIC, pointed out that the CRIC Broker Index CSI (residential sale price) latest report is 49.36 points, a decrease of 1.79 points from last week's 51.15 points.
A Piece Of The Puzzle Missing From Kerry Properties Limited's (HKG:683) Share Price
UBS Group: The recent larger-than-expected reduction in the most favorable interest rates of Hong Kong banks should support the recent real estate market transactions.
UBS Group released a report stating that Hong Kong banks have once again lowered the prime rate by 25 basis points, from 5.625% to 5.375%, a larger reduction than the expected 12.5 basis points, which is a positive surprise for the Hong Kong property market. The latest mortgage interest rate for new properties will decrease from 3.88% to 3.63%, achieving a neutral interest margin compared to the latest rental yield of 3.6%. The bank expects the residential market to enter a positive interest margin early next year. However, after the United States presidential election, the market reduced its expectations of rate cuts by the Federal Reserve. UBS Group anticipates that the larger than expected reduction in the prime rate should support recent property market transactions. Therefore,
