In january, the turnover fell to at least 25 years of new lows, with housing prices falling by almost 10 per cent from their peak in september last year, a new low since july 2013. In addition to this, the hong kong building city registered its highest quarterly decline of seven years - 7. 5 per cent - in the fourth quarter of 2015。
In january, the turnover fell to at least 25 years of new lows, with housing prices falling by almost 10 per cent from their peak in september last year, a new low since july 2013. “hong kong's house price is still very high, so it fell a little. It would have been expensive, and young people could not afford it.” a local resident (alias) working at a bank in hong kong told the news。
It lives in won-lang, on the north-west side of the new territories, which belongs to the suburbs of hong kong. Even so, local housing prices exceeded hk$ 100,000 per square metre, which fell slightly in the past when the hong kong building market began to relax。
“a small area next to our home, with a functional area of 433 square feet (approximately 40 square metres), sells hk$ 4. 68 million (approximately hk$ 3. 91 million), or approximately hk$ 117,000 per square metre. It's too expensive after hong kong's house prices started falling. And it's a 12-year-old house." the chapter says. She felt that hong kong's housing prices were now too high and that it would not be cheap to drop by half。
According to a january report released by the united states research institute, hong kong has been the world's most expensive city for six years in a row, with median building prices 19 times the median annual household income, the highest recorded in 12 years of the survey。
According to the report, the median building price in hong kong in 2015 was hk$5561 million, while the median household income was hk$293,000, 19 times the latter, up from 17 times in 2014. In other words, it would take 19 years to complete the purchase of a family's entire annual income。
Starting last september, housing prices in hong kong began to decline。
According to data previously released by china's real estate, the january turnover in hong kong city fell to at least 25 years of new lows, with housing prices falling by almost 10 per cent from last september's peak, up from july 2013. In addition to this, the hong kong building city registered its highest quarterly decline of seven years - 7. 5 per cent - in the fourth quarter of 2015。
According to a report released by the international rating agency standard & poor's 15, 2016 will be a difficult year for the real estate market in hong kong, with prices for residential buildings projected to decline by an average of 10 to 15 per cent, while turnover is expected to remain flat or increase by 5 per cent。
In addition to the successive setbacks in hong kong's housing market and the financial outflows, the market once re-emerged as a result of the asian financial turmoil, the industry is concerned about the accelerated decline in housing prices in hong kong, as in the case of the bear market, which entered for seven years after the collapse of the 9th floor bubble。
The president of the hong kong monetary authority, chen dyson, stated on 15 january that the hong kong monetary authority needed time to judge whether the hong kong real estate market was entering the lower cycle。
All the analyses and comments in the market are not good for hong kong's housing market this year。
In its 2016 investment outlook report, the bank noted that the hong kong building market was nearing the edge of the bubble, which was second only to london. Hong kong housing prices are expected to fall by 10 to 15 per cent in 2016 and are more likely to fall by 30 per cent by the end of 2017. In response to the news, li ji-young, research director of the real estate industry of hong kong, switzerland, stated that the 30 per cent decline in housing prices in hong kong was already the worst in the city and would not continue to fall。
According to the january report of the lyon securities (clsa), the real estate market in hong kong will decline by 8 per cent in the first quarter of 2016, up from 7. 5 per cent in the fourth quarter of 2015. According to reports from property consulting international, even the relatively strong hong kong mansions are expected to fall by about 5 per cent in 2016。
Headline: over half the economists say that the price of urban housing will rise in 2016
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