HK - Housing 04 (Apr 16 - Jun 24)

[behappyalways]

Hong Kong housing prices collapsed by 30%!
Developers are shrinking and "0 construction will start in 3 months".
Morgan Stanley is pessimistic and predicts another 2 years of decline

香港房價崩3成!開發商急縮手"3個月0動工" 大摩悲觀估再跌2年｜非凡財經新聞｜20231221

https://m.youtube.com/watch?v=GUHO6AUuvIE

[winston]

Citi Estimates HK Home Prices to Decline 10% More This Yr, Bottom out Next Yr

Hong Kong property market was expected to continue to ebb back this year with a decline of around 10%, in wake of towering supply and still high interest rates, Citibank said.

The bottom of the cycle may come in 2025, contingent on the trend of interest rates and China's macro environment.

Citi forecast that the US Federal Reserve will cut interest rates by a cumulative 1% this year, while the impact on Hong Kong's economy and the property market will not be imminent.

In particular, banks in Hong Kong may maintain higher interest rates to hedge against risks, if they remain prudent with regard to the prime rates (P). Citi estimated that the US interest rate cut will not change P notably.

The bank said office rents may see a further mid-single digit decline this year due to oversupply and feeble demand.

Retail store rents, on the other hand, will be dampened by the Renminbi.

Retail rents were expected to be more stable in areas preferred by Mainland tourists for shopping, while shop rents in other areas may adjust more sharply.

AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

Home prices seen falling by 10pc

by Cici Shi

Hong Kong's home prices will fall another 10 percent in 2024 and return to 2016 levels after an estimated drop of 5 percent last year, says Morgan Stanley.

Unsold units amounted to 20,000 as of the third quarter last year, a 20-year high, marking a continuous weak market sentiment.

Real estate consultancy Jones Lang LaSalle said Hong Kong's housing market will be in the phase of relative surplus between 2024 and 2027, based on the annual average sales of new homes of 16,400 flats in the past 20 years.

Source: The Standard

https://www.thestandard.com.hk/section- ... ng-by-10pc

[winston]

How Hong Kong's housing market became among the world’s most unaffordable

by Daniel Suen

It is no secret that Hong Kong is one, if not the most, expensive places in the world to own a home.

While property prices are now experiencing a cooling trend, buying a home remains an unattainable dream for most residents.

But why is that, and what is the government doing to address the issue?

Source: SCMP

https://www.scmp.com/video/scmp-explain ... 04bf87b3a2

[winston]

Home prices hit seven-year low as interest rates continue to bite

Yearly drop of 6.8 percent for 2023, a second year of decline,

The rental index climbed by 0.9 percent last month to the highest in four years. It jumped 6.6 percent last year from a year earlier and is predicted to pose another 6 percent growth this year, driven by the demand from inbound talent.

Colliers Hong Kong's head of research Kathy Lee Yuen-yan cautions that property prices will continue to fall by up to 10 percent as fierce competition for new flats in the primary market leaves little room for price adjustment, putting additional pressure on secondary markets.

Source: The Standard

https://www.thestandard.com.hk/section- ... ue-to-bite

[behappyalways]

Why is Hong Kong housing so expensive?
https://m.youtube.com/watch?v=63i2tVuTXqw

[behappyalways]

Exposing the invisible land grab by Hong Kong’s rich
https://m.youtube.com/watch?v=HSCm3k79fmw

[behappyalways]

Hong Kong scraps property curbs and raises taxes for highest earners
https://www.theedgesingapore.com/news/p ... st-earners


House prices plummeted by 20%!
Hong Kong rescued the housing market and canceled all property purchase taxes
房價大跌兩成!港救房市 撤所有買房稅｜方念華｜FOCUS全球新聞 20240229@tvbsfocus
https://m.youtube.com/watch?v=mREYuyIYVS8

[behappyalways]

Hong Kong new home sales hit 11-year high after property curbs removed
https://www.theedgesingapore.com/news/p ... bs-removed

[winston]

Number of Hong Kong mortgage holders with negative equity soars to 20-year high, most since Sars epidemic

The number of Hongkongers with negative-equity loans stood at 32,073 in the first quarter, the most since some 40,000 cases were recorded in the first quarter of 2004

Aggregate value of ‘upside down’ loans rises to HK$165.3 billion (US$21.1 billion), compared with HK$131.3 billion at the end of December.

by Salina Li

Source: SCMP

https://www.scmp.com/business/banking-f ... 0956&tc=13