Swire Group : Property price is nearly at top level and hardly to drop by 20%.

Property price started to fall because of effect from government’s strict measures. He Li-tai, the chairman of Swire Group expressed, Hong Kong property price is nearly at top level and hardly to drop by 20%. Luxury house market which always attracted funds seems to reach the top level on price firstly. According to data from Land Registry, Hong Kong only had 495 cases of trading of luxury houses which more than HKD 10 million registered in March. The number sharply decreased 41% comparing with 834 cases in February. He Li-tai: It is too early to judge the effect of the measures. He Li-tai pointed when accepting Bloomberg television access yesterday, “Viewing the whole world, Hong Kong market has the highest level on property price. If compare the property prices in New York, Paris, London and Tokyo, Hong Kong property price will be at top level soon.” However, he expressed, Hong Kong property price will not possible to drop by 20%. The price of second hand property may decrease. But it is too early to judge the effect from measures to new house market. 　 In fact, luxury house market seems reached to the top level on price by first. Zhang Wei-wen, the supreme mansion department chairman of Ricacorp Properties expressed, the trading of luxury house which more than HKD 10 million suffered a disastrous decline after DSD launched. Plus with the effect from Spring Festival holiday, Hong Kong only had 495 cases of residential house trading which more than 10 million registered in March synthesizing Land Registry’s data (The number majorly reflects the actual trading condition of Luxury house market in February.). The number sharply decreased 41% comparing to 834 cases in February and firstly fell after two months’ rising. Neither new luxury house nor second hand luxury house has good market result. Among, the trading of new luxury house had the highest falling range by month. The registered trading of luxury house in March sharply decreased 41%. In fact, the property market got dull after government launched the measures. Developer’s project launching was slow down. There were only Upper West in Mong Kok and RESIDENCE in Yuen Long launched into the market in the whole month. Since these two projects supplied less units, so Hong Kong only had 156 cases of new house trading which is more than HKD 10 million registered in last month. The number sharply decreased 65% comparing with 440 cases in February and behind the market level. The prices of the units were less. So the dealing amount in same period was only HKD 3.248 billion which decreased 58% by month. If divided by projects, One West Kowloon in Cheung Sha Wan had 35 cases of trading registered which was top 1 of hot selling new house projects in last month. Upper West in Mong Kok and Providence Bay in Tai Po were separately had 20 cases and 15 cases of trading registered. Upper West ranked second and Providence Bay ranked third. As for the second hand property market, the trading of hot luxury house was better than the whole market. There were 67 cases of trading in ten hot selling second hand house projects registered last month. The number increased 29% compare to 52 cases in February on contrary of market trend. Thereinto, the trading quantity in The Belcher's of Pok Fu Lam, One Beacon Hill in Kowloon Tong and Island Harbour View in Olympic Station sharply increased 1.29-5 times.