RMB appreciation continuously,Hong Kong new properties free of taxes in order to avoid the limited purchase order
Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum)Since the government have launched out 3D heavy taxes last year,the buyers from mainland almost disappeared in the Hong Kong property market.However,in recent months,major developers free of taxes or even lower than the second-hand price to sale the properties,coupled with the RMB appreciation continuously,the city in mainland also launched out the limited purchase order,so the mainland buyers setting off the trend of buying Hong Kong properties again.According to our statistics,in the new properties which launched out in the past one month,mainland buyers invested over HKD $2.2 ten billion on the property market,of which The Cullinan at Kowloon Station and The Austin at Austin Station which were most welcomed by mainland buyers got the benefit most.
18 Property Chairman Cheung Siu Chuen pointed out that due to the fact that RMB appreciation continuously,so the mainland buyers buying Hong Kong properties in recent equal to discounted 78%,which means offset BSD and DSD totaling up to about 23.5% taxes;coupled with the major developers free of taxes in order to attract buyers recently,mainland buyers entered the property market will have discount on discount,so it is the reason why they invest on the Hong Kong property market again.He estimates that the cities in mainland launched out the limited purchase order,it cause a batch of mainland buyers who are cash-rich ready to make trouble,so the trend of buying Hong Kong properties by the mainland buyers will keep on continuously.
New properties emerged in large numbers,appeared the mainland buyers traces
The Austin at Austin Station,for example,there are many mainland buyers go and visit,especially in the last period of the sale,
the mainland buyers have more enthusiastic response.Wheelock director Wong Yiu Kong said in the last period of this property sale,the mainland buyers accounted for about 10-20%,the proportion was higher than the earlier sale.There are a lot of buyers bought 2 units,of which included a mainland buyers spent HKD $2.03 billion buying the duplex on the top floor in Tower 5,also spent HKD $1.38 billion buying duplex households connected to the platform in Tower 2.As for The Cullinan passed that there are a mainland buyers buying 7 units in HKD $2.0 billion.The mansion in New territories also welcomed by buyers,The Graces•Providence Bay of Sino Land which launched out the sale in October,also got mainland buyers spent over HKD $1.168 billion
buying 3 units for own-use.Park-Metropolitan in Kwun Tong,The Long Beach in Tai Kok Tsui,Wei Fung in North Point and Imperial Kennedy in the Western also appeared the mainland buyers traces.
Reluctant to sell the mansions,reduced the individual's ratio
Centaline Senior Research Associate Director Wong Leung Shing pointed out that since the implementation of buyers stamp duty by the government in October last year,the mainland buyers need to pay 15% stamp duty if buying Hong Kong residential properties;the mainland buyers tend to be hold the Hong Kong mansions for long-term period,reluctant to sell the mansions,so it cause the Hong Kong luxury market known the proportion of mainland individual sellers fell significantly from a peak of two consecutive seasons.The second season of the Hong Kong mansion market this year,the individual mainland sellers who are already known accounted the proportion of 5.3%,accounting for the proportion of the amount of 5.1%,fell 2.8% and 3.5% respectively when compared to the last season;also when compared to the forth season which recorded last year 10.1% and 11.4% respectively; fell 4.8% and 6.3% respectively.
Affluent buyers focus on the mansions which located in Hong Kong,New York and London
Mainland have a growing number of wealthy individuals,and they will gradually shift their focus and investments overseas.CB Richard Ellis released " Chinese capital into overseas real estate investment report ", expects the individual investors from mainland will have to invest 1.1 trillion to the overseas property market.According to Knight Frank recently published in the third season of this year," Global Insight residential property,"report also shown,the investors from mainland becoming the most influential buyers in the new mansions market of the world,also pointed out that the mainland investors mostly buying the properties which located in Hong Kong,New York and London,also expected that in the future 12 months,buyers from mainland,Russia and the United States,will increase the shares in the new mansions market.The report shown that since five years ago,the global financial crisis,private investors think that the wealth accumulation tool is to invest the properties,also pointed out that since 2009 until now,the price of Dubai and Hong Kong have recorded an increase of 63% and 81% respectively,of which the price of mansions reflected this trend more apparent.The report shown that in the future 10 years,the number of high net worth individuals from mainland will have the opportunity to increase by 137% significantly.
The report also refers to the 39% of respondents said that the political and economic risks of the hometown of the buyers are the main driving factors for the international property demand.At the same time,there are another 47% of respondents said that the choice of investment destination,"safe haven effect" have the biggest attraction.Investors are also becoming more emphasis on the education and quality of life in the overseas investment locations.
