After the complete withdrawal of the "hottest" policies and the relaxation of mortgage loan policies, the enthusiasm and purchasing power of the Hong Kong property market continued to be released, the transaction volume gradually increased, and the situation continued to heat up.
According to 21st Century Business Herald, citing Hong Kong media reports, Hong Kong's large-scale luxury housing transactions have also become more active. Star Carina Lau sold her house and made a huge profit of 21 million Hong Kong dollars (approximately RMB 19.42 million).
Carina Lau suddenly made a huge profit of HK$21 million from selling properties
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According to reports, a unit at No. 9 Shen Wan in Wong Chuk Hang, Hong Kong, was sold for HK$73.8 million at the beginning of this month, with an average price of about HK$37,866 per square foot. It is reported that the owner is the artist Carina Lau.
Carina Lau bought the above-mentioned unit for HK$52.728 million as early as 2011 and held it for about 13 years. The book value appreciated by HK$21.072 million, an appreciation of about 40%. In recent years, Carina Lau has made great gains in the property market. Including the above-mentioned units, she has successfully sold three luxury homes in a row.
It is understood that Carina Lau and Tony Leung have always been keen on investing in properties. They own at least 10 luxury houses in Hong Kong with a total market value of approximately HK$920 million.
In addition to Hong Kong, Carina Lau has many properties in the mainland, including luxury homes in Beijing, Suzhou, and Shanghai.
It is worth noting that Carina Lau was previously asked by the media whether she participated in investing in the stock market. She responded to the media and said: "I actually don't know much about investing. I have no concept of numbers since I was a child, so when I invest, I only invest in things like real estate."
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Hong Kong as of April 18 The number of property registrations was 6,396
, an increase of 2.6 times month-on-month.
html On April 2, according to Midland Property Monitoring data, benefiting from the Hong Kong SAR government’s comprehensive “removal” of spicy goods, Hong Kong’s first-hand housing transactions increased more than 14 times month-on-month to 4,200 in March. , a new monthly high since 1998. Transactions of the top ten second-hand housing estates increased approximately 2.6 times month-on-month to 359.On February 28 this year, the Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan Mo-po, released the SAR Government's "Financial Budget" for the 2024-2025 fiscal year, which stated that all residential property demand management measures (commonly known as "hot tricks") will be withdrawn from now on, that is, All residential property transactions are no longer subject to additional stamp duty, buyer's stamp duty and new residential stamp duty.
For mainland buyers or corporate buyers, they need to pay a total of 15% of the property price for buyer’s stamp duty and new residential stamp duty when purchasing property in Hong Kong before the “hot move” is withdrawn. After the “hot move” is withdrawn, they only need to pay ad valorem stamp duty. , depending on the property value ranging from HK$100 to 4.25% of the property price.
According to the monitoring of Hong Kong Centaline Real Estate, after Hong Kong announced a comprehensive "removal of spicy goods", the property market showed a retaliatory impetus to enter the market. In addition to local buyers in Hong Kong, mainlanders and corporate customers were all competing for properties, and both primary and secondary transactions rebounded significantly.
On April 19, data from the Hong Kong Real Estate Research Department showed that as of April 18, the overall number of property registrations in Hong Kong this month reached 6,396, an increase of approximately 2.6 times compared with the same period last month.
Among them, the number of first-hand private residences and second-hand residences accounted for 5,802 registrations, an increase of 3.1 times, which was mainly affected by the withdrawal of property market control measures in the fiscal budget.
The activity of the residential market has increased significantly, and the number of first-hand public housing registrations has also increased by approximately 2.8 times to 150 cases.
In the non-residential market, the number of registered industrial and commercial shops increased by 54.7% to 181 cases, and the number of pure parking spaces and other non-residential registrations increased by 18.5% year-on-year to 263 cases.
Midland Property Research Center estimates that the overall number of property transactions in April will exceed 9,000, which will hit a 33-month high since July 2021.
Mainland customers have become a major force in purchasing houses
It is worth noting that mainland tourists have become a major force in purchasing houses in Hong Kong this time.
According to the 21st Century Business Herald, a Hong Kong real estate agent told reporters, "Basically all my customers are from the mainland." From the perspective of demand, both self-occupancy and investment are available. For the “need-needs”, children’s education and low price have become their biggest incentives to buy a house.
Of course, many people are still waiting and watching. Some mainland tourists have come to Hong Kong for half a year through the "Excellent Talents Scheme" and have already put buying a house on the agenda; some are about to obtain permanent residence in Hong Kong, but the "withdrawal" seems to reflect the lack of motivation in Hong Kong's overall economy, which makes them reluctant to buy a house. It seems more hesitant.
In the past few years, Hong Kong has attracted a large number of mainland talents to develop in Hong Kong through talent introduction measures such as the "Excellent Talents Program" and the "Highly Talented Program". Sun Yuk-han, Secretary for Labor and Welfare of the Hong Kong SAR Government, revealed that as of the end of February this year, the "Highly Talented Program" had received more than 72,000 applications, of which nearly 59,000 were approved, and about 44,000 people have come to Hong Kong through the program. . Including applications approved under other talent entry schemes, a total of about 108,000 talents have arrived in Hong Kong since last year.
Li Yuanfeng, senior director of Jones Lang LaSalle in Hong Kong, said that from an investment perspective, “Hong Kong has a long history of property investment, and the rental return rate is relatively considerable, generally reaching 3% (3%), and those near the CBD can reach 4% (4%). %), as Hong Kong is an international financial center and has gathered a large number of international and domestic talents, it is believed that it will be easier to rent.”
Li Yuanfeng said that the cost consideration mainly depends on whether the buyer takes out a loan and the mortgage interest, rates, management fees and other expenses. The proportion is not high. Considering Hong Kong's sound legal system, I believe that Hong Kong properties are still good long-term holding assets.
At the same time, rents in Hong Kong are significantly higher than in mainland cities. "If the same money is spent in Hong Kong and the mainland, the rate of return will definitely be higher in Hong Kong," said Mr. Chen, the first-hand account manager of Hong Kong Real Estate. Indeed, in terms of investment attributes, Hong Kong’s rental-to-sales ratio is better than that in the Mainland, but the holding costs are also relatively high.
Editor | He Xiaotao Gai Yuanyuan
Proofreading | Duan Lian
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