in Hong Kong over the weekend, analysts agree higher loan financing and cheaper borrowing costs have helped lift buying sentiment. The government can certainly dig deeper into its toolbox for reinforcement, if needed.
“The impact from the mortgage relaxation measures will take time to be reflected” in the industry, said Buggle Lau Ka-fai, chief analyst at Midland Realty. “If the government wants, there are some other measures . But the most important thing is to boost the economy.” The Housing Authority announced in August that 7,132 flats under the Home Ownership Scheme will be put up for sale in this fiscal year. The flats located in Kai Tak, Yau Tong, Tung Chung and Tuen Mun will have prices from HK$1.43 million to HK$4.67 million, a 30 per cent discount to current assessed market values.to avoid further worsening of the supply glut, said Hannah Jeong, head of valuation and advisory services, CBRE Hong Kong.
It may be too early to trigger those “rescue” options. The first week of post-stimulus sales has been quite encouraging, according to Sammy Po Siu-ming, CEO of Midland Realty’s residential division.
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