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HKMA: Interest rates may remain at relatively high levels for a period of time.
The Federal Reserve in the USA cut interest rates by 0.25 basis points. The Hong Kong Monetary Authority stated that as expected by the market, the Fed further lowered interest rates, implementing a looser monetary policy. However, the future pace of rate cuts depends on the economic data in the USA, which will be affected by fiscal and economic trade policies, thus there are still many variables. Additionally, since the monetary policy environments of major economies are not necessarily fully synchronized, the risk of global market volatility is worth noting. The Hong Kong Monetary Authority mentioned that the financial and monetary markets in Hong Kong are operating smoothly, with stable market liquidity and a stable exchange rate of the Hong Kong dollar. The Hong Kong dollar's interbank interest rates are generally approaching the US dollar rates under the linked exchange rate system, while shorter-term interbank rates.
The overall residential property prices in Hong Kong are still under pressure in the short term according to Knight Frank's Hong Kong Residential Market Report. The overall atmosphere and leasing in Hong Kong Island's Grade A buildings will gradually impr
According to the latest "Hong Kong Monthly Property Market Report" released by Knight Frank, this year's Policy Address announced an increase in the maximum loan-to-value ratio for all property loans to 70%. With the cancellation of all cooling measures in the real estate market, as well as lower interest rates, Knight Frank expects more high-income local and overseas professionals to enter the mid-to-high-end residential property market in the long term. However, it is expected that overall residential property prices will still be under pressure in the short term, despite recent interest rate cuts, as interest rates remain relatively high. Due to developers actively launching new projects to drive sales, the secondary housing market will continue to be under pressure. As for Grade A office space, in September this year, Grade A office space in the Hong Kong Island area continues to face challenges.
Express News | UBS Group: Mainland clients buying Hong Kong property have further intentions to increase, expecting Hong Kong property prices to rebound next year.
Hong Kong stock concept tracking | The announcement of the cancellation of property purchase restrictions in UAC! The beginning of the "Silver Ten" sees warming trends in the real estate market in many cities (with concept stocks).
Everbright Securities stated that recently, real estate has seen the continuous release of restrictions on purchases and sales, leading to a significant increase in the volume of new homes sold in many areas, with a noticeable boost in market activity. It is expected that future real estate policies will continue to make efforts to promote the stable and healthy development of the real estate market.
Relaxing the mortgage loan conditions for residences and solving the "subdivided units" issue, the Hong Kong property market welcomes multiple significant bullish news.
1. "Relaxing mortgage restrictions indirectly reduces initial expenses, lowers the entry threshold to the market, and eliminates mortgage restrictions based on property prices or usage, believing 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 reaching a new high in almost 7 months, and property prices are also expected to stop falling and rebound in the fourth quarter."
"Hong Kong Tower" founder Cao Deming: Relaxing the loan-to-value ratio should help investors enter the market.
The "Policy Address" announced that the maximum mortgage percentage for all residential and non-residential properties is unified to 70%. Applicants of the "New Capital Investment Immigrant Scheme" can invest in residential properties with a fill price of 50 million yuan or above. Chief Vice President Cao Deming of Leverage Mortgage Referral expressed that the government further relaxes the mortgage percentage and the loan-to-income ratio, believing that it can attract capable investors to enter the market. It is expected that there will be an increase in the transactions of large-sized properties, rental properties, and second homes, which is a positive support to the property market. The revision also applies to non-residential properties. Cao Deming believes that this is an appropriate time, allowing those affected by the epidemic and the decline in property prices in recent years to participate.
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