CCL has the lowest rise in 4 weeks
Article from (Reporter: Chow Wing) Since government is going to release more measures, the market is getting serious. Centaline CCL and Centaline Big Housing Estate index CCL Mass is rising 0.07% and 0.18%. The rise is the lowest in 4 weeks. Senior investors like KeDa Properties director Tong KunMing and Lai YuYun are warning that although the property price is not going to fall this year, but it will be a matter of time since there is no investment which does not have a loss.
CCL is now in 111.19, which rises 0.07% and is the lowest rise in 4 weeks. CCL Mass has increased 0.18% to 109.41 and is also the lowest rise in4 weeks.
Centaline: Uptrend is slowed down and reflects the rationality
Centaline research senior co-director Wong Leung Sing points out that the rise is slow since users are now more rational and did not enter the market with blind eyes. However, he expects the property price is rising.
On the other hand Midland Realty property price trend shows that till September the average price of Hong Kong island has arrived HKD9,503 per square feet, while Kowloon including TKO has arrived HKD 7,299 per square feet, which is a increase of 26.8% and 13.1% when comparing to 1997. It is expected that the average price of Hong Kong island properties could achieve more than HKD 10,000 per square feet, while the average property price in New territories could achieve higher than a level in 1997 in a short while.
It is expected that the price falls at the end of the year
Tong KunMing reveals that since property price could be fall down just a matter of time, the main reason of the rise is the government didn’t offer land for sale, while no public housing estate has been released by the government as well. The demand exceeds the supply. And this year the government has released the land for sale and is expectedin 2 years and at the soonest 2014the market will have a cycle effect. If the effect is combined with the rise of interest, the situation will turn to supply exceeds demand and the property price will be falling, while the level will be affected according to external economies.
For current investment strategy. He points out the property price is already very high and the chance of buying propertiesis not high. He reveals that 62 Wong Zok Hun Road KeDa Design Center has been acquired by HKD 750 million, while buyer is ordering the ex-holder to change the purpose of use to hotel. It is now an industrial building with 28th floor and an area of 130,000 square feet (including carpark). The area of each floor is 4,280 square feet.
Not touching flats but turning to commercial buildings
Senior investor Lai YuYun reveals that the property price is not going to fall currently while the uptrend is going to be slowing down. She reveals that she will not inest in flats but commercial buildings.
City One Shatin is at around HKD 9,000 per square feet
In fact, the market has no supply while there are more high-price transactions. Market information points out that tower 36 D flat in City One Shatin with an area of 389 square feet has been traded with HKD 3.48 million and an average price of HKD8,946 per square feet. It has broken the record. TinHau Kam Long Court middle floor levelB flat with a parking space has been traded with HKD 16.28 million. Century 21Yim ZiBun reveals that the flat has an area of 1,600 square feet and an average price of HKD 10,175 per square feet. The parking space worth HKD600,000. If it is counted without the parking space, the average price will be HKD 9,800 per square feet and breaks the record.
