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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.
Retail Management Association: The basic market factors remain unchanged, and the market has not yet shown signs of improvement.
Annie Lo, Executive Director of the Retail Management Association, pointed out that the main reason for the narrowed decline in retail data in Hong Kong in September is the low base effect. She mentioned that the current market conditions have not changed fundamentally, with general weakening in consumer spending among citizens, coupled with strong performance of the Hong Kong dollar and the influx of mainland Chinese visitors, the market remains weak without any signs of improvement. 70% of the association's members expect business performance to continue to decline in October. Annie Lo stated that among these members, non-essential items are experiencing a larger decline, while 30% expect business to remain stable or improve, primarily relying on promotional activities and new product launches. Members are still pessimistic about the performance in November and December. She pointed out that half of the members anticipate a decline in business in November, during the Christmas holiday in December.
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.
Hysan Development's Subsidiary to Renew Lease of Premises With Jebsen & Co
Hysan Development Renews Lease With Jebsen & Co.
[Brokerage Focus] CICC pointed out that the policy address has limited support for Hong Kong real estate, but has a positive long-term impact on the industry.
King Wus Financial News | China Construction International released research reports, stating that the Chief Executive of Hong Kong has just announced the 2024 Policy Address, introducing favorable population, economic, and housing policies for the real estate industry. Although these incremental policies may be limited in scope and the extent may disappoint some market participants, the reality is that the Hong Kong government does not have much room for policy relaxation. Policy initiatives to attract talent and promote the economy may be the best outcome the industry can expect. The bank believes that these policies will have a positive impact on the real estate industry over time, especially on house rental companies focused on community-based retail like Link REIT, as well as on companies like New World
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