www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

  Home>News Center>China
       
 

HK investors cautious on mainland homes
(China Daily)
Updated: 2005-07-14 05:55

Editor's note: The Chinese central government started to implement tough measures to curb the over-heated real estate market from June 1. China Daily is running a series of stories to find out the impact of these policies and how consumers and developers nationwide are responding to them. Reporter Vincent Lam found the mainland's policies have also reduced Hong Kong residents desire to buy mainland properties.

Beijing's macro-economic control measures on the mainland property market have reduced Hong Kong home-buyers craving for mainland properties, with most of them waiting for the right time to enter the market as prices are expected to drop further.

Hong Kong home-buyers are likely to spend less on mainland properties this year due to the central government's recent measures to cool the overheated housing market, Hong Kong property agency Centaline said.

The property agency estimated that Hong Kong buyers would reduce their investment in the mainland property market by 8 per cent to 10.75 billion yuan (US$1.3 billion) or, in terms of number of flats, by 4 per cent from the 18,500 units purchased last year.

Midland Holdings Executive Director and CEO for China operations Kwok Ying-lung noted: "The previous feverish buying by Hong Kong investors is now a thing of the past as the risk of investing in mainland property is escalating and so Hong Kong investors are thinking twice before making investments at this uncertain time."

"The effect of the cooling down measure has still not been fully felt yet," Kwok predicted.

"Property prices in Shanghai will plunge by 50 per cent and prices of Shenzhen and Guangzhou properties will fall by 20 to 30 per cent by the end of the year."

The measures are arguably having an immediate effect on reducing property sales as well as on the volume of mortgage lending.

Home prices on the mainland recently slowed down by 2.3 percentage points from a 13.6 per cent gain in the first four months of the year to an average of 11.3 per cent in the first five months, according to the National Bureau of Statistics.

Mortgage lending slowed accordingly and was 12.1 per cent lower than in the same period of last year, growing by just 25.1 per cent to 2.5 trillion yuan in the first quarter, according to the People's Bank of China.

However, the extent of the drop so far is less than that predicted and Hong Kong buyers are waiting until the process of consolidation is complete before entering the market again.

Despite Hong Kong buyers adopting a conservative attitude towards the mainland property market, Hong Kong industry participators still believe that continuing investment in the mainland market is a way of boosting their stocks performance in the Hong Kong market.

Chairman and CEO Vincent Lo of Shui On Land, a leading Hong Kong property developer in the mainland market, said: "Anti-speculation measures are reasonable as property prices in Shanghai have risen rapidly in the previous three years and the cooling down measures are more to consolidate the overheated market than about strangling the entire market."

Giving a vote of confidence to the market, Lo said he would continue to push ahead with the planned 10 billion yuan (US$1.2 billion) project to build the Chuangzhi Tiandi residential and commercial development in Yuhang, along with the Hangzhou city government.

Lo suggested that the measures would have a positive impact on the Shanghai property market in the long term.

"Despite property prices having fallen in recent weeks and property buyers taking a wait-and-see approach, the prospects for the property market are good." he added.

Vice-chairman Francis Lui of Ka Wah group, another prominent Hong Kong property developer, said he also supported the measures.

Lui revealed that the company's high-end property project in Yangpu district in Shanghai, which has about 700 residential units due to go on sale mid-year, would not be affected by the general market downturn because of the strong demand for quality units.

However, the full raft of macro-economic measures has already had a negative impact on property developers, as well as on projections of the market's future profitability.

Guangzhou R&F Properties, the mainland city's largest developer, planned to make its debut on the Hong Kong stock exchange on July 14, in the hope of raising up to HK$2.21 billion to finance its mainland property projects, but received no offers for margin finance from securities firms and the response from both the retail and institutional sector has been lacklustre.

The sales performance of Hong Kong-listed mainland property developers has been hit by the withdrawal of buyer interest and confidence in the market's profitability.

Chief Financial Officer Lin Chu Chang of China Resources Land, a unit of State-owned China Resources Holdings, disclosed that since the introduction of the macro-economic control measures in the mainland, property sales in Beijing and Shanghai had seen a 30 per cent drop month-on-month in May.

Beijing Capital Land, the property arm of the city's municipal government, has also issued a profit warning because of the impact of cooling down measures on the real estate market.

However, Guangzhou R&F Properties vice-chairman and president Zhang Li brushed aside the gloomy market sentiment and noted: "Property is an important pillar of the Chinese economy, so the government will not crack down on it. They only want to adjust prices to a more reasonable level."

(China Daily 07/14/2005 page9)



Special police detachment established in Xi'an
Panda cubs doing well in Wolong
Suspect arrested in Taiwan
  Today's Top News     Top China News
 

Taiwan's KMT Party to elect new leader Saturday

 

   
 

'No trouble brewing,' beer industry insists

 

   
 

Critics see security threat in Unocal bid

 

   
 

DPRK: Nuke-free peninsula our goal

 

   
 

Workplace death toll set to soar in China

 

   
 

No foreign controlling stakes in steel firms

 

   
  No foreign controlling stakes in steel firms
   
  China-made telescopes race to space
   
  'No trouble brewing,' beer industry insists
   
  HK investors cautious on mainland homes
   
  Law in pipeline to ban money laundering
   
  Overseas students test their Chinese abilities
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 大学生久久香蕉国产线观看 | 在线看片日韩 | 精品免费久久 | 国产成人久久一区二区三区 | 欧美成人性做爰网站免费 | 中文字幕一二三区 | 美女擦逼 | 国产一级做a爰片久久毛片男 | 亚洲国产一区二区a毛片日本 | 久久亚洲精品tv | 久久精品国产99久久99久久久 | 美女被免费网站在线软件 | 黄色一级片网址 | 国产精品免费一区二区三区 | 在线国产观看 | 老头巨大粗长xxxxx | 久久精品一区二区三区不卡牛牛 | 日本特黄a级高清免费酷网 日本特黄特色 | 国亚洲欧美日韩精品 | 亚洲欧美日韩综合久久久久 | 黄网站在线播放视频免费观看 | 68久久久久欧美精品观看 | 韩国欧洲一级毛片 | 国产亚洲小视频 | 一区二区三区中文字幕 | 久久精品视频一区二区三区 | 99久久国产免费中文无字幕 | 在线观看的毛片 | 欧美xx在线观看 | 国产精品久久久久久久久久日本 | 亚洲国产日产韩国欧美综合 | 亚洲国产精品一区二区三区久久 | 国产欧美一区二区三区视频在线观看 | 99久久综合给久久精品 | 久久亚洲精品永久网站 | 草草影院视频 | 色在线看| 国产精品久久久久久影视 | 久久爰www免费人成 久久曰视频 | 韩国毛片免费 | 精品视频在线一区 |