Spicy trick to raise interest rates hit the Hong Kong property market, 2400 brokers fear of unemployment
Article from "spicy move" released less than a month, 10 large housing estates only sold for a miserable situation, interest rates, the property market is dead, a second-hand property prices began to return to reality. New disc changed two or three percent higher than the same area in the past used the offer "Do not worry about selling attitude paste market prices even split price opening; Used split huge success, such as 6-year, no transaction Tsing Lung Tau Yee Lung villa houses, owners of two degree split $ 400 million to $ 14 million with car park sold, a decrease of 22%. Agent industry seven Chamber of Commerce pointed out yesterday, spicy trick has hit the real estate related industries, property prices only minimal volume to support, at any time will "runaway crash" drag on the economy., And the next 3-4 months is estimated there will be 10% to 20% of the real estate agency that about 300 closed down, 10-20 percent of about 2,400 brokers unemployment.
Chop prices as much as 22% of the Tsing Lung Tau Elong villa houses According to Midland Wu Pengxiong, This is the first transaction in real estate for six years, traded in dual HOUSE, a building area of approximately 1,800 sq ft, salable area of approximately 1,547 sq ft, three room with car park. The owners of the original asking price of about $ 18 million, twice lower prices due to the attitude of government moves to soften, and finally sold for about $ 14 million. Units equivalent construction area ft price of about 7,778 HKD, ft price of the salable area of about 9,050 HKD. The buyers name property. The original owners in May 2007 to approximately 838 million purchase of the above address, the the comic The discounted resale carrying amount still earn about 5.62 million HKD.
Zenith price is reduced by more than one million to speed up sale
In fact, recently the secondary market dead, many owners are willing to cut the price of shipping. According to the Central Plains real estate statistics, last weekend's top ten estates only Ap Lei Chau recorded a turnover, the remaining nine estates opt for "holding the egg, transaction data miserable over the SARS period, the second-hand trading into a midwinter frozen state. Last weekend, another correspondent Midland Realty trading was quiet two days 15 large estates only six transactions, if only taking into account the top ten blue-chip estates only five transactions.
Hong Kong Island Floor City thirst again, Zenith, Wan Chai, also owners due to subdued market conditions, preferring less than a million of seeking only earned leave! Centaline Zhang Yongquan means that Zenith 3 D Upper Room, the original owners of January this year, put disk outcry to $ 102.8 million, recently to see market conditions quiet, willing markdowns 138 million, sold for 8.9 million HKD, a decrease of 13.4 % Saleable area of 498 square square feet of gross floor area of 651 ft, salable area ft price of 17,871 HKD, the construction area of 13,671 per sq ft price. Original owners times sell units carrying a profit of 3.711 million HKD.
Not reduced no may sell
Ricacorp president Liu Wei Keung describes, currently the second-hand market conditions, such as the Ice Age, the owners if not discounted almost impossible sell goods, hand transaction before being led to most of the owners to make concessions. Subject to additional stamp duty (SSD) and double stamp duty (DSD) for flat passenger shipping sentiment is extremely low, reluctant sellers abound.
Estate agents seven Chamber of Commerce yesterday open mind trick, and that the Government successive spicy recruit has a great impact on the property market and the economy, the company commander line investment activities also significantly reduced residential turnover hovering 3,000 per month to 5,000 cases in 2003 SARS period about the level of the market into a semi-hibernation state. And after the introduction of the SSD, spicy taxes push up the cost and risk not only speculators deterred so small owners cherish goods sale, disk minus amount of price rise or market, the market rely on a very small volume to support, a lack of price firm support, easy runaway crash in case of shock.
The collapse of about 300 agencies
The Seven Chamber of Commerce Convenor of the Chairman of the Federation of Hong Kong real estate agents Stripe Rust Infection on Photosynthesis and Transpiration estimated, the next 3-4 months, there will be 10-20% of the estate agency business closures, and 10-20% of the practitioners unemployment. To the Federation of Hong Kong real estate agents are corporate members of more than 1,400 rooms, estate practitioners over 1.2 million dollars, involving the closure of about 300 companies and 2,400 brokers unemployment.
