With the disappearance of bullish factors, market buyers are becoming more cautious, and it is expected that the trading volume in the second half of the year will significantly decrease compared to the first half.
Zhixin Finance APP has learned that Guo Ziwei, the Chief Manager of the Business Department of Cheung Kong Holdings (01113), said that the Hong Kong government has been actively attracting talents in various aspects, which has had a positive impact on Hong Kong as an international financial center. However, with the disappearance of bullish factors, market buyers are becoming more cautious, and it is expected that the trading volume in the second half of the year will significantly decrease compared to the first half. The ability to undertake will be biased toward luxury homes, and the atmosphere will also be bullish for luxury homes. The annual fluctuation range of property prices will narrow to 5%.
Regarding the latest May property price index released by the Hong Kong Rating and Valuation Department (RVD) falling again, Guo Ziwei mentioned that the index reflects the disappearance of bullish factors due to the Hong Kong government's withdrawal of the spiciness factor, which is a normal market situation. With the reversal of the US interest rate, it is beneficial to the development of Hong Kong's economy. The economic growth momentum of Hong Kong in the first half of the year is good, with a growth rate of 3%.
The latest data released by the Hong Kong Rating and Valuation Department shows that the private residential price index in Hong Kong in May 2024 was 305.9 points, a decrease of 1.23% from the previous month, breaking the two-month rising streak and hitting the lowest point in nearly three months. Hong Kong's property prices fell by 1.73% in the first five months. Compared with the historical high of 398.1 points in September 2021, the cumulative decline in property prices has widened to 23.16%.