(reporter Tu Ruo-ben) Under the effect of government's measures, the whole second hand property trade volume appears downward trend. The effect is especially great in ten large property projects. Thereinto, Kornhill Garden only sold 5 cases during November in record which sharply decreased nearly 60% compare to last month. The trade of residential confirmor units is more from bad to worse and it nearly disappear in November. Since both sides of buyers and sellers dare not to into market under " strict measures", the house property source shortage and owner's property hoarding make property price stay in high level and cases in new highest record appear in market successively.
Experts appeal to increase land supply
Zhang Qiao-chu, the chairman of Greater China area evaluation and consultation department of Cushman & Wakefield expressed, BSD and SSD just are shocks for residential property market. The misgivings of buyers purchasing properties are increased and owner are optimistic about future market without mark down intention because of the low interest environment in Hong Kong. So the see-saw situation continues. It is estimated that the residential property market trades will sharply decrease 30% in future 12 months started from last month and will continue keep in extremely low level.
Zhang Qiao-chu pointed out, government hopes property market in healthy development but it is not a best way that only suppressing the requirement by government's measures. Government should increases land supply and makes clear and detail land supply schedule. It can let public know about the land supply over the next serval years and decrease the inaccurate expectation of the land supply. The property market will also in healthy development.
The cost of large units is strong
The property price still don't decrease after government launched measures to suppress the market. The latest Centa-City Leading Index (CCL) continue makes new highest record for 8 weeks. It rises from 108.17 to latest 116.81 in 8 weeks which is accumulative rises 8%. Huang Liang-sheng, the Senior associate director of Centaline Property research department pointed out, CCL making new highest record in 8 weeks reflects the property price has been raised since QE3 launched. It is estimated that CCL will maintain in stable level after it up to 120.
House property source decrease in market and new highest trades appear because of buyers' requirement. Centaline Property Xu Wei-ye expressed, room D, middle floor, building 1, Horizon Place in Kwai Chung of which the cover area is 806 sq ft and in 3 rooms layout sold at HKD 5.28 million. The average sq ft price was HKD 6,551 making new highest record in same type of units. 3 rooms units in Horizon Place are not many and most owners bought the units for own use, so large unit put on sale is rare and the cost also is strong.
Midland Realty Zeng Wei-ming expressed, although government launched measures to suppress the market, but owners are optimistic seeing the house property source in that district is lack. Room D, high floor, building 1, Tsing Yi Garden of Tsing Yi of which the cover area is about 670 sq ft and in 3 rooms layout sold HKD 4.65 million days before. The converted sq ft price was about HKD 6,940 making historical new peak of cost price in 3 rooms units in the project.
In the same time, under effect of new measures, the register cases of confirmer residential unit are obviously decrease. Zhou Man-jie, the research department director of Ricacorp Properties expressed, there were only 4 register cases of confirmer residential unit in October which decrease 20% compare to 5 cases in September.
