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Showing posts with the label hk property market

Is the Hong Kong Property market back?

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There is a notable increases in agents and prospective buyers around this weekend, and the "buzz" of another possible period of property prices increases is definitely in the air. I would not say its a frenzy by any means, but definitely a notable stirring of interest and activity.
And as always, what seems to happen in HK so quickly, is that those sellers who had considered selling only a few weeks ago are putting their asking prices up in response to buyers who are now looking to get "back in", sensing that prices are moving back up.
Are we really back into upward movement in HK property prices? Possibly. 
Certainly, the outlook for interest rates increases is becoming increasingly subdued. A 25bps increases, whether it comes in December or some time in 2017 will be easily absorbed by the HK property market, except perhaps to some extent, the high end luxury market. 
Supply is still very limited, with the big increase in supply "promised" by CY Leung n…

Various updates

Property agents are reporting a strong pick up in activity over the last few weeks as transactions start increasing again. Demand is strong form first time buyers wanting to get into the market for smaller apartments, and also apparently very strong from families who have either been renting, or had a smaller place, wanting to upgrade to larger sized places.
I was sent this advert recently by the way by a private seller of a so called "combined unit" Park Island apartment:
http://admart.asia/en/HongKong/Property/Apartment-for-Sale/page1/36220.
It might be a of interest to people seeking a larger home.
Its hard to tell what will happen to the market and what if any other measures the Government puts in place to discourage people form selling, but my guess would be we will see 8-10% gains in prices per year over the next few years, as interest rates look like remaining at rock bottom lows for some time to come, and demand for Hong Kong property keeps rising with 60,000-100,000 p…