Second-hand sales declined markedly after the government tightened the property market in November last year. Credit Suisse predicted in the report that the number of second-hand transactions in Hong Kong this year was 36,000. Credit Suisse believes that the profit prospects of the American Union Group (01200-HK), which is a property agency, will be affected by government policies, reducing the target price of the Federal Reserve from 2.2 yuan to 1.8 yuan, and reaffirming the US Union's “outperforming the market” rating.