|
|
 |
|
Viewing report
|
|
|
|
Hong Kong Real Estate Report Q3 2011
Business Monitor International, June 2011, Pages: 61
Business Monitor International's Hong Kong Real Estate Report provides industry professionals and strategists, corporate analysts, real estate associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hong Kong's Real Estate industry.
Hong Kong’s economy continued to improve solidly in 2010. GDP growth was 6.8% in real terms, supported primarily by the strong recovery of private consumption and external trade. Growth in Hong Kong was assisted by an improvement in the growth of its key trading partner, the US, and the continued strong growth of its other major trading partner, China. As a result the property sector in Hong Kong has enjoyed a solid recovery throughout 2010. The local property market registered an increase in transactions throughout most of 2010 compared with the previous year, supported by solid demand from flat buyers. Strong economic growth has also assisted demand for office space in Hong Kong during 2010.
Results from the major property developers in Hong Kong have now all been released for the 12 months to the end of December 2010. In the main all enjoyed a solid growth in profitability as a result of both solid rising rental growth and a recovery in selling prices.
During 2010, the Hong Kong Special Administrative Region (HKSAR) government implemented a number of housing measures, covering a very broad area of the housing sector in Hong Kong and catering for the needs of different income groups. These measures are very specific, including home-buyer protection measures, and aim to build a more sustainable framework for Hong Kong’s property market. The housing policy announced in the October 2010 Policy Address announced a couple of new policies including additional stamp duties, a minimum holding period for property investors to facilitate the residential rental market, and the revision of different levels of loan-to-value ratios to ensure a healthy mortgage-lending business.
All of these measures will stabilise the growth of residential property prices and ensure a healthier property market. Some degree of instability is to be expected as the market adjusts to these announcements, but BMI still expects the residential market to remain strong in 2011. The government’s measures to curb speculation in the property sector will slow market development and have already had an impact on speculative action in the market.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
