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6/9 News Roundup: Deutsche Bank Predicts 48% Drop in Property Price while Scholars Disagree, 2,500 First Hand Homes Supply this Month

  • By
  • Asif Ghafoor
  • June 9, 2017

Deutsche Bank Predicts 48% Drop in Property Price while Scholars Disagree
Home prices in Hong Kong in 2026 will be 48% less than what they are today, Deutsche Bank predicts. It sees that happening as purchasing power will be limited by an aging population and there will also be an abundant supply of new residential units in the next few years. Deutsche Bank says aging puts the housing market at risk as fewer people will be able to buy property. But Terence Chong Tai-leung, an economics professor at the Chinese University of Hong Kong, disagrees with the thrust of the report, saying aid capital and arrivals from the mainland can support home buys and offset the negative population growth. And home prices are unlikely to plunge by half, Chong added.

2,500 First Hand Homes Supply this Month
More new projects are joining the first-hand ‘battle’ in the coming months, supplying about 2,500 new units to the market. Cheung Kong’s Ocean Supreme in Tsuen Wan providing 1,436 units will be the largest upcoming new project. Meanwhile, Sun Hung Kai will upload the sales brochure of its Yuen Long project PARK YOHO Genova next week. The project provides 683 units in 8 towers. Novum East by Henderson Land will also join in this month, providing about 400 units. Furthermore, Kowloon Development aims to roll out flats from 63 Pokfulam during 1 July holiday.

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