Hong Kong Property: Raises the forecast for this year's transaction volume of new residential properties in Hong Kong to 19,000 units
The Federal Reserve has cut interest rates again, and major banks in Hong Kong have announced a follow-up rate cut of 0.125%, bringing the Hong Kong dollar's best lending rate (P) down to 5%-5.25%. Hong Kong Property has raised its forecast for this year's primary residential transaction volume to 19,000, setting a new high since the implementation of the "Residential Properties (First-hand Sales) Ordinance" in 2013. The forecast for secondary residential transactions has also been upgraded to 45,000, reaching a four-year high. Hong Kong property prices are expected to show low single-digit growth, reversing the downward trend that has persisted for the past three years. Hong Kong Property conducted a customer property intention survey this month through a questionnaire, successfully collecting 327 valid responses. The survey results indicate that, benefiting from the U.S. interest rate cut and the Hong Kong banks' reduction of the best lending rate (P), the public's willingness to enter the market continues to rise. About 56% of respondents indicated they are considering entering the market within the next 12 months, marking a new high for the third quarter and the fourth highest since records began in the second quarter of 2016, while approximately 44% of respondents stated they are not yet considering entering the market
According to the Zhitong Finance APP, the Federal Reserve has once again cut interest rates, and major banks in Hong Kong have announced a follow-up rate cut of 0.125%, bringing the Hong Kong dollar's best lending rate (P) down to 5%-5.25%. Hong Kong Property has raised its forecast for this year's primary residential transaction volume to 19,000 units, setting a new high since the implementation of the "Residential Property Sale Ordinance" in 2013. The forecast for secondary residential transactions has also been upgraded to 45,000 units, marking a four-year high. Hong Kong property prices are expected to show low single-digit growth, reversing the downward trend seen over the past three years.
Hong Kong Property conducted a customer property intention survey this month through a questionnaire, successfully collecting 327 valid responses. The survey results indicate that, benefiting from the U.S. interest rate cut and the Hong Kong banks' reduction of the best lending rate (P), the public's willingness to enter the market continues to rise. About 56% of respondents indicated they are considering entering the market within the next 12 months, reaching a three-quarter high and the fourth highest since records began in the second quarter of 2016, while approximately 44% of respondents stated they are not yet considering entering the market
