According to Securities Times, on November 7th local time, the Fed cut interest rates by 0.25% as expected by the market. BOC Hong Kong and HSBC also announced a 25 basis point rate cut, reducing the Hong Kong dollar's prime rate from an annual rate of 5.625% to 5.375%. Chen Yongjie, Vice Chairman of Asia Pacific at China Real Estate and Chief Executive of the Residence Department, stated that in the past two months, with strong support from the central government, the mainland property market has seen a sharp increase in transactions, benefiting the Hong Kong property market as well. Hong Kong has removed all tough measures on the property market, welcoming all foreign investments in the Hong Kong property market. With the simultaneous rate cut between Hong Kong and the United States, this will add momentum to the Hong Kong property market, and it is predicted that Hong Kong property prices may stop falling and rise by 3% to 5% in the fourth quarter.

Chen Yongjie stated that the last round of interest rate cuts in the United States, together with a comprehensive set of measures introduced by the central government, as well as the Hong Kong Policy Address relaxing mortgage measures, have led to an increase in both transaction volume and stability in property prices in the Hong Kong property market in October. HSBC has just announced a 0.25% reduction in the prime rate, following the U.S. rate cut, bringing another surprise to the market. It is believed that the simultaneous rate cuts between Hong Kong and the United States will once again boost the Hong Kong property market.

In October, the volume of first-hand transactions was nearly 3,000, triple that of September. As for second-hand transactions, the number of transactions facilitated by China Real Estate increased by 85% compared to September, proving that the rate cut combined with favorable property market policies have successfully activated transaction volume in the property market.

As for property prices, there are signs of stabilizing. In October, the China Real Estate Leading Index CCL recorded three increases and one decrease. Compared to the week before the U.S. rate cut, the index only saw a slight decline of 0.2%. Chen Yongjie pointed out that price trajectory has always been slower than transaction volume, and the gradual rise in property prices after stabilizing the decline will contribute to a healthier development of the property market.