playpokerforrealmoney| Cheung Kong Group responded to the company's frequent discounts on sales of properties
Victor Li said that at present, it is necessary to obtain annual double-digit figures from the real estate business.PlaypokerforrealmoneyThe return is not easy.
Hong Kong's property market has ushered in a turning point after the complete withdrawal of the 14-year-old "hot move" in the property market. Changshi Group, which has always had a keen sense of smell (01113PlaypokerforrealmoneyHK) continuous discounts during this important window have attracted market attention.
In late May, "# LYOS", a residential project owned by Changshi in Hung Shui Kiu in northwest New Territories, was put on sale, including 14 units in multi-storey buildings and 14 duplex households in the garden. In terms of price, the price of flats in multi-storey buildings is about 25% lower than that of initial public offerings, and the highest discount for garden duplex households is about 32%.
In April, the Blue Coast3B phase of Changshi's Wong Chuk Hang Station on the south bank of Hong Kong Island also went on sale in the first round of "bottom price", selling 422 residential units at an average price of 2.Playpokerforrealmoney.19 million Hong Kong dollars per square foot, while the cost of the project is about 28000 Hong Kong dollars per square foot. The average price of the project is actually lower than that of the same region.PlaypokerforrealmoneyThe price of his property has also been reduced by 30% compared with the second-hand housing prices around him. In addition, the pricing of nine units in Jiudushan, the name of another project, was also sharply reduced by 23% to 32%.
On the issue of frequent discounts and sales of properties, at the shareholders' meeting on May 23, Victor Li, Chairman and Managing Director of Changshi Group, responded that "the pricing of real estate cannot be generalized." (pricing) is determined in the light of the different conditions of each property, including its location, traffic, surrounding environment and the market environment at that time. "
In fact, since the "hot" at the end of February, the atmosphere of the Hong Kong property market has reversed and the trading volume of new markets has increased significantly. According to data from the Wachovia property Research Center, in March, there were more than 4100 first-hand transactions in Hong Kong, a month-on-month increase of 14.6 times, while the amount recorded more than 42 billion yuan, a monthly increase of nearly 11 times. If we compare it with the monthly registration data of the Land Registry, the transaction volume in March also reached the highest level since 1998, and the transaction volume has been the highest since 1996.
The primary market also continued to improve in April. Data from Hong Kong's Central Plains Real Estate show that in the whole of April, the primary market in Hong Kong recorded about 1852 transactions, which was lower than that in March, but still increased several times when compared with only 447 and 275 cases in January and February before the withdrawal of spicy products.
Chen Yongjie, vice chairman of the Asia-Pacific region of Central Plains Real Estate and president of the housing department, said that since the government announced the full withdrawal of spicy products at the end of February, the first-hand delivery volume has been faster than expected, and some of the late orders that have been sold for many years have also been sold out. By the end of April, developers have sold about 6044 cases, equivalent to an average of about 3000 units a month. The astonishing sales in these two months is about 56% of about 10790 transactions in 2023. However, the trading volume in April still reached 1800 cases, which belongs to the level of prosperous city.
Changshi is also seizing the opportunity of the market rebound to clean up inventory. Previously, Changshi has also said to the outside world that the discount sale of the new order is precisely to attract people who want to buy property locally to take advantage of the opportunity to enter the market.
Recently, however, the popularity of the Hong Kong market has fallen somewhat. On May 23, data released by Zhongyuan Real Estate showed that the number of buildings in the top ten housing estates recorded 439 reservations this weekend, a weekly decline of 11.8%, the lowest in nearly 12 weeks. Chen Yongjie said that since the end of February, the number of first-hand transactions in Hong Kong has recorded nearly 7000, accounting for about 67% of the whole of last year, and the property market now needs to catch its breath.
However, the industry still has expectations for the Hong Kong property market. Chen Yongjie believes that although there is no new good news in the market recently, and there is a large car market sale which has put pressure on the trading of the secondary market, recently, domestic rescue measures have been introduced continuously; Hong Kong stocks have repeatedly hit this year's highs, and the whole-day trading volume in the big market has reached a new high in nearly a year and a half, which has a positive impact on the property market, and the outlook for the property market is optimistic.
In addition, in terms of housing prices, a comprehensive "hot" also helps to stabilize prices. According to Wachovia property Hong Kong data, if calculated on a monthly basis, the Wachovia property price index rose about 1.2% in April, stabilizing for the first time in 11 consecutive months. As trading volume picked up, the Wachovia property price index was at 136.05 points on May 6, and the decline in property prices has narrowed to 1.1 per cent so far this year.
Wachovia property Hong Kong believes that the future trend of property prices will depend on Hong Kong's economic recovery, as well as the timetable and trend of interest rate reduction.
Victor Li also said that there has always been a rigid demand for Hong Kong's local property market, and its long-term development is still supported. after the "hot", the Hong Kong property market will continue to be dominated by housing policies and interest rates. However, he also admitted that at present, with high land prices and construction costs and high interest rates, "it is not easy to get double-digit annual returns from the real estate business today."
Victor Li is as optimistic as ever about the Hong Kong economy. When asked about the future investment direction, he replied that as long as there are quality assets with ideal returns, they will be considered in Hong Kong, the mainland or other places. At the same time, as Hong Kong is an international financial centre, more and more international enterprises and international family offices will strengthen Hong Kong's position as an international financial centre. Hong Kong's economic strength will also be better, which will be conducive to long-term development.