Transport and Housing Bureau announced yesterday that last year the amount of private residential construction and completion volume reached 134 million, compared with 2009 increased by 63% and 86%. However, over the years have been completed in the new disc has been digested, so that the number of units have been built but not sold, falling to 7,000 last year, is expected to be completed this year, reduced residential property prices are still rising pressure. Dampen property prices continue to soar, to increase the supply side for the fundamental side. Government List of the new year should increase the number of units could be built, and the form of non-regular land to make up the application list depends on the developers, together with the railway superstructure, urban renewal, the acquisition of old buildings, etc., so that the overall potential supply increased efforts to achieve balance between supply and demand to relieve upward pressure on prices.
according to Midland Realty Research Ministry, 97 years to 14 years in last year's average in the property market to attract about 2 million in units. And the current 4 to 5 years reflect future potential supply of only about 49,000, the actual two and a half just enough to digest, the new disc supply is still insufficient. As the actual start may be to sell the unit volume and lag, estimated to be 2013 to 2014, before the actual market supply increased.
30 to 40 years in Hong Kong residential property built for the peak period, the grant of premises now aging and bring to market a lot of demand for flat, it is estimated the potential demand for new properties this year, up to 2 million units or more. Coupled with sustained economic upturn, increasing public demand for flat, and depreciation of the dollar and the RMB appreciation and under the double effect, in addition to local residents but also attract a large number of mainland capital to Hong Kong to purchase the property. Expected 4 to 5 years after the housing supply in Hong Kong was up to 2 million units, supply and demand to balance.
to balance supply and demand in the residential, the Government to levy stamp duty, reduced short-term mortgage loans against property speculation measures still need to stick to and the extent depending on the property market speculation, may at any time and then moves. However, these measures can effectively combat property speculation in the short term, is the stopgap measures, to achieve long-term stability of prices, must start from the root, is to increase the supply of land. Over the past few years, the supply of land is indeed less, resulting in the primary residential supply. Government should do to solve this problem, ensure that the supply and demand balance.
intervention if the Government moves again the property market, has to balance the diverse interests of the property to avoid sharp fluctuations. Home buyers do not want property market depreciation of assets, not home buyers hope that the Government strengthen its efforts to dampen property prices, the sandwich class is hoped that the introduction of more subsidized units. Government should in the community to strike a balance multiple interests, goals should be stable and healthy development of the property market.
need to guard against that, due to the global low interest rate environment, liquidity risk is increasing in Hong Kong property market bubble. The current low interest rates this financial environment is not normal, not long-term maintenance, adjustments will surely come, and there will be a large shock. For potential home buyers, the low interest rate environment will eventually end, raising interest rates is imperative. Individuals to consider before home ownership affordability, if mortgage interest rates too much after that, or the property market downturn, in which the risk can not be underestimated, therefore, whether the market requires considerable care.
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