In the third of a three-part series on John Lee’s policy address, Salina Li and Cheryl Arcibal look at the impact of the policy and monetary moves since 2009 to cool home prices. Now, stakeholders want the government to roll these back. But will that have the desired effect?
An improved economy, a better jobs outlook and a turnaround in stock market performance are also needed to boost homebuying confidence and sentiment in the city, they say.
Update: March, 11/2021 - 15:00 |
Residential market remained most active with total transactions rising by 69% y-o-y for January and February combined, and expected to jump by 73% y-o-y in Q1
Investment into non-residential properties continues pickup commencing in Q4 2020, with retail and industrial properties remaining most favoured
HONG KONG SAR - Media OutReach - 11 March 2021 - Strengthened market sentiment helped boost Hong Kong real estate market growth in Q1, unleashing pent-up demand and transactions in both residential and investment markets. The wealth effect was amplified by the stabilizing COVID-19 situation locally and the eagerly awaited roll-out of a vaccination program, both considered prerequisites for sustained economic recovery.
Home Prices Expected to Rise by 5% in Q2
Residential market remained most active with total transactions rising by 69% y-o-y for January and February combined, and expected to jump by 73% y-o-y in Q1
Investment into non-residential properties continues pickup commencing in Q4 2020, with retail and industrial properties remaining most favoured
HONG KONG SAR – Media OutReach – 11 March 2021 – Strengthened market sentiment helped boost Hong Kong real estate market growth in Q1, unleashing pent-up demand and transactions in both residential and investment markets. The wealth effect was amplified by the stabilizing COVID-19 situation locally and the eagerly awaited roll-out of a vaccination program, both considered prerequisites for sustained economic recovery.