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    Property market trends

    The economic uncertainties brought on by the COVID-19 pandemic have created a legion of market pessimists. Amongst them is post-80s property investor Victor Ng, who believes that Hong Kong’s housing market will be “out of luck” for the next couple of years, and that housing prices may drop 15-20% this year and possibly a further 20% next year. “The economy has entered a downward cycle and is extremely unlikely to climb out of it in just six or 12 months. So I think the housing market will stay sluggish in the next two years,” he says.
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    Property market trends

    Financial Secretary Paul Chan announced in early May that the city’s GDP shrank 8.9% year on year in the first quarter, the worst shrinkage on record, adding that the “three locomotives” of Hong Kong’s economic growth—exports, retail and investments—all broke down. Walking down the streets of the previously bustling districts of Tsim Sha Tsui, Causeway Bay, Mong Kok and Central, all we see these days are empty spaces. There is no doubt that Hong Kong has entered a deep recession.
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    Property market trends

    Financial chief points to lower negative equity risks.
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    Property market trends

    With the Coronavirus taking centerstage in everyone’s lives in Hong Kong and around the world and coming on the heels of last year’s widespread social unrest throughout the territory, the city’s local real estate market in 2020 has been decimated—or so some industry pundits have been saying. Yet, despite the dire warnings about an imminent housing collapse that would seem to scare people away from buying new homes, the reality on the ground reveals signs pointing to the contrary.
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    Property market trends

    Is there such a thing as a tenants’ market, and if so, is this what it looks like?
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    Property market trends

    Cross-media property platform squarefoot.com.hk (“Squarefoot”), operated by the REA Group Limited (ASX:REA), today announced the results of its 2020 Q2 Hong Kong Real Estate Market Outlook Survey. The results show that local homebuyers’ purchasing appetite has rebounded to 2018 H2 levels during the COVID-19 pandemic, yet their budget for intended property purchase has slightly fallen.
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    Property market trends

    The COVID-19 outbreak has undeniably put a strain on Hong Kong’s economy over the past few months. Given the situation, which has led to a severe shrinkage in primary market sales in the first quarter of 2020 compared to last year, developers have to restrategise and reset their plan for new development launches.
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    Property market trends

    Amidst the black-swan emergence of the Coronavirus, on top of my own views about the potential impact on property prices, I want to summarise what various real estate experts are saying for you consider before making an important property decision. The majority of the real estate industry is predicting that even with the COVID-19 pandemic looming, Hong Kong’s home prices aren’t expected to dramatically fall to levels akin to those of SARS.
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    Property market trends

    As the spread of the novel coronavirus outbreak continues, Hong Kong is faced with mounting cases and has reported its first death from the virus. All of this is bringing me back to awful memories of the SARS epidemic 17 years ago.
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    Property market trends

    Looking back on the past two years, CK Asset Holdings has launched a limited number of housing developments. The company’s Executive Director, Justin Chiu Kwok-hung, said in an interview conducted before the Coronavirus outbreak in Hong Kong, that although the city’s housing market is still plagued by uncertainties, the previously prevalent market pessimism has been dissipating. He adds that with four key advantages working on its side, Hong Kong’s housing market won’t see a major drop in prices, and that home prices will only fluctuate by up to 5% this year compared to the levels of 2019.