Home » Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

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Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

Hong Kong’s property market continues to face challenges as the government’s measures to loosen restrictions have not had the intended long-term impact. The market, which saw a brief rebound following the removal of stimulus measures, is now facing more uncertainty and criticism.

The government’s decision to remove “spicy food” measures, which had been in place since 2010 to curb property speculation, was met with mixed reactions. While some buyers rushed to make purchases in fear of missing out, others expressed concerns about the sustainability of the market.

One couple, Ms. Li and her husband, took advantage of the opportunity and purchased a property in Tai Mei Tuk, New Territories. Despite feeling positive about their purchase, Ms. Li voiced her concerns about the future of the property market and the uncertain economic conditions.

Experts in the industry have also expressed skepticism about the impact of the withdrawal of stimulus measures. The recent rebound in transaction volume has not been sustained, and property prices have begun to fall again. Factors such as oversupply, high interest rates, and the overall weak economy are contributing to the market’s instability.

Developers are now offering sales promotions to attract buyers, but the high inventory levels indicate that it may take a prolonged period to absorb the excess supply. The outlook for the property market remains uncertain, with some analysts predicting further price declines in the near future.

Investors, both local and foreign, are approaching the market cautiously. While some are taking advantage of the lower prices, others are wary of the risks involved in the current market conditions. The overall sentiment among buyers is one of uncertainty and caution.

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As Hong Kong grapples with economic challenges and political changes, the future of the property market remains uncertain. Real estate giants have also expressed concerns about the market’s prospects, with some acknowledging the need for a fundamental shift in the market’s dynamics.

In the face of these challenges, Hong Kong’s property market will likely continue to face turbulence in the coming months. Investors and buyers will need to carefully assess the risks and opportunities in the market before making any decisions.

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