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Home Prices Set to Rise in Hong Kong, Singapore, Australia in 2025
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.
Kerry ppt (00683.HK) recorded its third transaction at "Tiffany" in Kowloon Tong with cashing over 0.58 billion yuan in November.
Kerry PPT (00683.HK) announced today (18th) the sale of the A unit on the basement level of Block 6 at the low-density Kowloon Hills project "Mont Verra" along with a landscaped garden villa. This marks the third transaction in November after the previous sales of the B unit on the 3rd floor of Block 2 and the A unit on the 1st floor of Block 6, totaling more than 0.58 billion yuan in cash. Meanwhile, the transaction price per square foot for the garden villa has reached a new high. This year, "Mont Verra" has sold 7 garden villas, with 2 remaining for sale. The latest sold unit is the A unit on the basement level of Block 6 with a landscaped garden villa, with a usable area of 3,466 square feet.
Over the past weekend, "The Met. Sublime II" in Hung Fuk Bridge recorded 3 transactions. There is a discrepancy in the transaction data of the top ten estates between two major agencies on weekends.
Last weekend, there were no new properties launched in the city, with most transactions involving remaining stock. The property market focus returned to the secondary market, with the top ten blue-chip estate transactions in Hong Kong reaching double-digit levels again, but Chung Yu recorded only 6 transactions over the weekend, hitting a new low in about 4 months. Asia Standard (00129.HK)'s "Hoi Du II" in Hung Shui Kiu under the Group recorded a total of 3 transactions over the weekend, including unit A09 on the 2nd floor of project 3, with a usable area of 503 square feet, transacting at 5.5741 million yuan, price per square foot 11,082; and unit B02 on the 8th floor of project 1, with a usable area of 452 square feet, transacted at 4.6899 million yuan, price per square foot 10,3
HSBC Research on "Dah Sing": Potential storage cost turning positive may help stabilize the property market, expecting a fifty percent increase in property prices next year.
HSBC Research's research report indicates that investors should focus on companies with profit recovery potential and those that may shift business strategies. With the increase in residential rents, the potential recovery of holding costs will benefit the demand for property ownership, and may also help stabilize the property market in unfavorable economic conditions. The bank predicts that property prices will stabilize in the second half of the year, rise by 5% next year, noting that prices have fallen by 6% from the beginning of the year and have seen moderate increases for five consecutive weeks. The bank is bullish on Sun Hung Kai Properties (00016.HK) and Kerry Properties (00683.HK) among many developers, with target prices of HK$116 and HK$19.6 respectively, both rated as 'buy'.
Standard & Poor's expects that Hong Kong property prices will stabilize next year, raising the sales volume forecast for new projects to 0.02 million units.
Rating agency Standard & Poor's released a report stating that after a nearly 30% decline in high Hong Kong property prices in 2021, they are expected to stabilize next year. However, local developers are still struggling, mainly due to high inventory, and the recognition of residential projects purchased during the period of high land prices will further pressure profit margins. Nevertheless, Standard & Poor's believes that with the government relaxing housing market measures and interest rates trending downwards, they have revised their forecast for next year's new home sales volume to 0.02 million units. In addition, Standard & Poor's expects that the future three to four years' new supply may exceed 80% of the government's ten-year private residential supply target.
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