Guide of the total market: Hong Kong, China
Filled up of beautiful skyscrapers and houses with the sights of the attic of the city, Hong Kong highly accommodates the properties wished in the heart of the city. Aligned regularly as the market of the lodgings more expensive in the world, the advanced domestic prices in Hong Kong continue to increase due the increasing demand. In the guide of the total market of this month, we give an internal glance to the top of the real estate in Hong Kong in order to learn more about the value than that buyer more.
TRANSACTIONS OF THE MARKET
Agency double, when he is the buyer who the vendor is represented by the same agent, is the norm in Hong Kong. In the limited cases which separate representation of the vendor and the buyer happens in it is usually because of a transaction of the cage (when buyer and vendor everyone are represented by the different brokers) as many countries, nevertheless with the exception of the United States, Hong Kong does not have a MLS directory less, that make lists it of very rare the sole agent or single, constituent than 5% than all he lists to it. The majority of the vendors prefers to work with more than a broker for time in order to obtain their exposure of property with the multiple sources.
MARKET OF THE LODGINGS RUNNING
Inside of the residential market of resale of Hong Kong, the transaction volumes are to an historical minim, that it is causing from three primary factors — 1) high costs of transaction, 2) rigorous policies of mortgage and 3) low yields. Now, the buyers superior in quality mainly are looking for the residences or the primary properties of investment of hooligan-I dislocate, often considered collectibles or antique dealing objects.
ATTRACTION OF THE LUXURY BUYERS
The address arguments. The buyers of Hong Kong try the houses in traditional rich vicinities typically in order to reach the social status. The superior in quality popular vicinities are usually calm with the lotteries and the private sights of the sea. Alternatively, the great houses inside a drive of 30 minutes to the city and the houses that have vital increase in the long term moreover highly are appealing to
In the heart of the city, more than 90% of the luxury properties they are the apartment houses in skyscrapers. The majority of these buyers renews for being apt to the their various tastes after to be mosssi within, so as to not particular interest of the amenities in the unit when it acquires.
During the two slid years, the volume of innovation transaction is increased and in sure periods it contributes about the half of the residential volume total of transaction. The developers supply the reductions in price of the expenses of transaction and the options more clement than mortgage (more high relationship than loan--value) for the buyers who for the residential vendors.
PROFILE OF LUXURY OF THE BUYER
The buyers of luxury in Hong Kong are mainly independent entrepreneurs or have family have possessed the commerce. A small percentage of the luxury buyers is working the professionals and in those cases, it takes place typically beyond 50 years. The residents of Hong Kong constitute at least 70% of the buyers of luxury in the market and 90% of the buyers do not come from China.
POLITICAL CLIMATE CURRENT
The political climate in Hong Kong does not hit the real estate market generally directly unless it is a great event, which the combined declaration anglo-Chinese in 1984, than directly it has hit the economy. Although there is an important political event, “the movement of the umbrella” in 2014, the economy and the residential real estate market are not hit give.
IT MARK DOMESTIC INCREASED
The main effect of the prices in increase in the real estate market of Hong Kong is volume to low level of transaction. Low yield (2% or more than less) and the prices from supremacy have eliminated the demand from the investor of the value and the remaining buyers are looking for a safe haven for their money or a new residence.
With the domestic prices in Hong Kong to an historical level and to low level of the transactions arranged with the rates to low interest (2.0% - 2.5%), the rate unemployment lowland (3.1%) and under the medium refueling of new lodgings, our experts foretells the modest increase during the 12 next months.
Although the domestic prices are quickly increasing the 16 slid months, there is still uncertainty about the market. The cycle of running dwelling, that it has begun in 2004, is five times more advanced era to the extremity of last cycle and could come very well to a peak in next future. The official data show that 98,000 units will be ready for the sale and the occupation in next the four years.
In spite of the increase of the domestic prices in Hong Kong, the demand from the luxury buyers has still to diminish. With little signs of the prices that diminish, the luxury buyers remain properties looking for selective in rich vicinities and sure financial investments in the short term to give the priority over the living dispositions.
Special graces to our properties of Asia Pacific of the member for the supply of their understandings about the real estate market of luxury in Hong Kong.
For further information on the properties in Hong Kong, it review here.