Civil unrest stalling Hong Kong’s housing market over the coming year

Must Read

Africa’s biggest grocery retailer, Shoprite exits Nigeria

Shoprite is exiting the continent's most populated country, Nigeria, after 15 years of operation. The retail giant initiated a...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Civil unrest stalling Hong Kong’s housing market over the coming year - Brand SpurRICS-Spacious report indicates continuous decline in prices, sales volumes and rents HONG KONG, CHINA – Media OutReach
– 19 September 2019 – Amidst trade tensions
between China and the U.S., Hong Kong’s political unrest has continued to
dampen market sentiment. According to the newly published RICS-Spacious Hong
Kong Residential Market Survey, Confidence Index continues to fall from -54 in
July to -76 in August.

 

The survey also indicates that both buyer and
rental demands have reported significant deterioration, with rental demand recording
its first negative reading in the survey’s history.

 

- Advertisement -

During the most intense period of protests,
nearly 70% of respondents have cited some degree of price decline over the past
three months. Prices, sales volumes and rents are expected to dwindle in the
near-term.

 

Aggregate prices are expected to fall 4.6%
across Hong Kong, sales volumes are seen slipping 5.3% and rents 2.5%. The
market outlook prediction seems to be a significant reversal since June, where
survey contributors anticipated an increase on all three of these metrics.

 

- Advertisement -

“Participants also commented that a cessation
of the protests appears to be unlikely in the near-term, which contributed to
the more subdued medium-term outlook for the market”, said the report’s author
Sean Ellison, RICS Senior Economist for Asia-Pacific. Ellison also states that
“some survey respondents cited tariff escalation between China and the U.S. as
a headwind, the ongoing political unrest continues to be the main catalyst
cited as driving market pessimism.”

 

Although the current market sentiment is
similar to when trade tensions escalated and when interest rates were expected
to increase in October 2018 and February 2016 reports respectively, a clear
resolution to the city’s unrest is proving to be elusive.

The RICS-Spacious Hong Kong Residential
Property Monitor is a monthly sentiment index tracking trends in the commercial
property market. It is a leading indicator for global investment and occupier
markets. The full report is available at www.rics.org/economics.

- Advertisement -

About RICSConfidence through Professional Standards

 

RICS promotes and enforces the highest professional
qualifications and standards in the development and management of land, real
estate, construction and infrastructure.
Our name promises the consistent delivery of standards — bringing confidence to
the markets we serve.

 

We accredit 125,000
professionals and any individual or firm registered with RICS is subject to our
quality assurance. Their expertise covers property, asset valuation, real
estate management; the development of infrastructure; and the management of
natural resources, such as mining, farms and
woodland. From environmental assessments and building controls to negotiating
land rights in an emerging economy; if our members are involved the same
professional standards and ethics apply.

 

We believe that standards
underpin effective markets. With up to
seventy per cent of the world’s wealth
bound up in land and real estate, our sector is vital to economic development,
helping to support stable, sustainable investment and growth around the globe.

 

With offices covering the major political and financial centres of the world, our market presence means
we are ideally placed to influence policy and embed professional standards. We
work at a cross-governmental level, delivering international standards that
will support a safe and vibrant marketplace in land,
real estate, construction and
infrastructure, for the benefit of all.

 

We are proud of our reputation
and work hard to protect it, so clients who work with an RICS professional can have confidence in the quality and ethics
of the services they receive.About Spacious Spacious is the
highest quality online real estate platform in Hong Kong. Spacious is capturing
data from real estate searchers and inventory holder and augmenting it with
additional data sets to generate real-time, independent, and actionable
insights. Spacious’ vast property and demographics data can deliver valuable
insights for your organization.

Find
our more here: www.spacious.hk

RICS-Spacious report indicates continuous decline in prices, sales volumes and rents

 

HONG KONG, CHINA – Media OutReach
19 September 2019 – Amidst trade tensions
between China and the U.S., Hong Kong’s political unrest has continued to
dampen market sentiment. According to the newly published RICS-Spacious Hong
Kong Residential Market Survey, Confidence Index continues to fall from -54 in
July to -76 in August.

 

The survey also indicates that both buyer and
rental demands have reported significant deterioration, with rental demand recording
its first negative reading in the survey’s history.

 

During the most intense period of protests,
nearly 70% of respondents have cited some degree of price decline over the past
three months. Prices, sales volumes and rents are expected to dwindle in the
near-term.

 

Aggregate prices are expected to fall 4.6%
across Hong Kong, sales volumes are seen slipping 5.3% and rents 2.5%. The
market outlook prediction seems to be a significant reversal since June, where
survey contributors anticipated an increase on all three of these metrics.

 

“Participants also commented that a cessation
of the protests appears to be unlikely in the near-term, which contributed to
the more subdued medium-term outlook for the market”, said the report’s author
Sean Ellison, RICS Senior Economist for Asia-Pacific. Ellison also states that
“some survey respondents cited tariff escalation between China and the U.S. as
a headwind, the ongoing political unrest continues to be the main catalyst
cited as driving market pessimism.”

 

Although the current market sentiment is
similar to when trade tensions escalated and when interest rates were expected
to increase in October 2018 and February 2016 reports respectively, a clear
resolution to the city’s unrest is proving to be elusive.

The RICS-Spacious Hong Kong Residential
Property Monitor is a monthly sentiment index tracking trends in the commercial
property market. It is a leading indicator for global investment and occupier
markets. The full report is available at
www.rics.org/economics.

Read Also:  AIA and EY Release New Report on Insurance for High Net Worth Individuals; 90% of Singapore Respondents Leverage Insurance Solutions as Part of Wealth and Legacy Planning
Read Also:  Toyota Mobility Foundation Introduces Next-Gen Urban Development and Traffic Management Global Challenge with MDEC

About RICS

Confidence through Professional Standards

 

RICS promotes and enforces the highest professional
qualifications and standards in the development and management of land, real
estate, construction and infrastructure.
Our name promises the consistent delivery of standards — bringing confidence to
the markets we serve.

 

We accredit 125,000
professionals and any individual or firm registered with RICS is subject to our
quality assurance. Their expertise covers property, asset valuation, real
estate management; the development of infrastructure; and the management of
natural resources, such as mining, farms and
woodland. From environmental assessments and building controls to negotiating
land rights in an emerging economy; if our members are involved the same
professional standards and ethics apply.

 

We believe that standards
underpin effective markets. With up to
seventy per cent of the world’s wealth
bound up in land and real estate, our sector is vital to economic development,
helping to support stable, sustainable investment and growth around the globe.

 

With offices covering the major political and financial centres of the world, our market presence means
we are ideally placed to influence policy and embed professional standards. We
work at a cross-governmental level, delivering international standards that
will support a safe and vibrant marketplace in land,
real estate, construction and
infrastructure, for the benefit of all.

 

We are proud of our reputation
and work hard to protect it, so clients who work with an RICS professional can have confidence in the quality and ethics
of the services they receive.


About Spacious

Spacious is the
highest quality online real estate platform in Hong Kong. Spacious is capturing
data from real estate searchers and inventory holder and augmenting it with
additional data sets to generate real-time, independent, and actionable
insights. Spacious’ vast property and demographics data can deliver valuable
insights for your organization.

Find
our more here:
www.spacious.hk

Civil unrest stalling Hong Kong’s housing market over the coming year - Brand SpurRead More

- Advertisement -
Civil unrest stalling Hong Kong’s housing market over the coming year - Brand SpurCivil unrest stalling Hong Kong’s housing market over the coming year - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Civil unrest stalling Hong Kong’s housing market over the coming year - Brand SpurCivil unrest stalling Hong Kong’s housing market over the coming year - Brand Spur

Latest News

H1 2020: Sterling Bank reports a 4.4% decline in profit after tax to N5.4bn

Sterling Bank Plc, a full service national commercial bank releases its unaudited results for the half-year ended June 30,...

UACN Plc Reverses Self on Plan to Unbundle UPDC amid Credible Offer by Custodian Investment Plc

On Monday, August 3, 2020, UAC of Nigeria Plc notified the Nigerian Stock Exchange, Securities and Exchange Commission, Shareholders and the investing community that...

Nigeria Naira Assets: …still a corporate issuers’ game

The spread of the COVID-19 disease across the world triggered unanticipated global financial market volatility and Nigeria was not left out. FPIs and local...

Photos from the Lagos Ileya Virtual Concert

The Lagos Commissioner for Tourism, Arts and Culture, Mrs. Uzamat AkinbiIe-Yusuf, and the Special Adviser on Tourism, Arts and Culture, Mr. Solomon Bonu, has...

Nigerian Breweries H1’20 – Revenue strain persists amid pandemic pressures

Severe revenue drop tames H1 performance Nigerian Breweries recently released its Q2’20 results, reporting a 17.5% q/q slump in topline to ₦68.7 billion. Despite a...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Civil unrest stalling Hong Kong’s housing market over the coming year - Brand SpurCivil unrest stalling Hong Kong’s housing market over the coming year - Brand Spur