HONG KONG, July 20, 2020 /PRNewswire/ — Property platform squarefoot.com.hk (Squarefoot), these days introduced the results of its 2020 Q3 Hong Kong Authentic Estate Sector Outlook Survey. The results clearly show that practically two in five respondents (39%) assume that assets selling prices will decide up in the future 6 months, reflecting a extra optimistic perspective toward the assets industry as opposed to the earlier quarter.” data-reactid=”fourteen”>HONG KONG, July 20, 2020 /PRNewswire/ — Property platform squarefoot.com.hk (Squarefoot), these days introduced the results of its 2020 Q3 Hong Kong Authentic Estate Sector Outlook Survey. The results clearly show that practically two in five respondents (39%) assume that assets selling prices will decide up in the future 6 months, reflecting a extra optimistic perspective toward the assets industry as opposed to the earlier quarter.
June 2020 and involving five hundred Hong Kong citizens, reflected really polarised views about the housing industry. While 39% of respondents be expecting an typical expansion of 9.four% in dwelling selling prices in the future 6 months, 22% anticipate an typical fall of 11.two% in the exact time period. Outcomes from the two earlier surveys (done in December 2019 and April 2020) showed that only around 11% of respondents forecasted an maximize in assets values, with extra than half believing they ended up probable to decrease in the 6 months adhering to the study.” data-reactid=”fifteen”>The on the net study, done in late June 2020 and involving five hundred Hong Kong citizens, reflected really polarised views about the housing industry. While 39% of respondents be expecting an typical expansion of 9.four% in dwelling selling prices in the future 6 months, 22% anticipate an typical fall of 11.two% in the exact time period. Outcomes from the two earlier surveys (done in December 2019 and April 2020) showed that only around 11% of respondents forecasted an maximize in assets values, with extra than half believing they ended up probable to decrease in the 6 months adhering to the study.
The new study results reveal that the proportion of respondents who consider assets values have arrived at their peak in the earlier twelve months has dropped from forty seven% to 34% since the very last study. When hunting into the motorists of a likely increase in dwelling selling prices, respondents ranked ‘Demand for household assets is however high’ (sixty five%), ‘Housing industry will however increase in extensive term’ (fifty seven%) and ‘COVID-19 outbreak is alleviating and the economy is starting off to revive’ (49%) as the major a few aspects.
Homebuying need remains continual, with buyers’ urge for food for acquiring household assets in the future twelve months dropping marginally in Q3 (24%) as opposed to the Q2 conclusions of 26%, but however reflecting an maximize from 2019’s figure. Additional than half of the respondents (52%) agree that the political ecosystem will have an effects on their acquiring conclusions. Between these intended homebuyers, forty three% declare they will sluggish down, suspend or cancel their strategies to make a purchase, which is 5 proportion factors fewer than the over-all respondents (48%). Even so, 26% of intended buyers said they will speed up their strategies to make a purchase, which uncovered a better proportion as opposed to over-all respondents (10%). This shows that a portion of intended homebuyers even forge forward with their purchase strategies.
Kenneth Kent, Standard Manager, squarefoot.com.hk said, “The study fieldwork was done when the outbreak was exhibiting indicators of alleviating. Despite the fact that eighty three% of respondents however assume current assets selling prices are too higher, 39% of respondents forecast housing values will increase in the future 6 months, which demonstrates a reversal of expectations from the earlier two surveys. We failed to see any considerable correction in true estate selling prices due to the COVID-19 pandemic in the to start with half of 2020, which may represent buyers’ self-confidence in the outlook for the industry.”” data-reactid=”eighteen”>Commenting on the study results, Kenneth Kent, Standard Manager, squarefoot.com.hk said, “The study fieldwork was done when the outbreak was exhibiting indicators of alleviating. Despite the fact that eighty three% of respondents however assume current assets selling prices are too higher, 39% of respondents forecast housing values will increase in the future 6 months, which demonstrates a reversal of expectations from the earlier two surveys. We failed to see any considerable correction in true estate selling prices due to the COVID-19 pandemic in the to start with half of 2020, which may represent buyers’ self-confidence in the outlook for the industry.”
He continued, “The outbreak has led to a surge in over-all on the net assets data platform utilization. According to Squarefoot’s data, we have witnessed enduring expansion in internet site traffic across the to start with 6 months of 2020, with web-site traffic and assets listing enquiries growing by 26% and forty two%, respectively, as opposed to the earlier quarter.”
The study also discovers that ninety one% of intended buyers have seemed for homes on the net for the duration of the pandemic, whilst ninety three% reveal that they will continue to purchase assets data on the net even after the outbreak.
Respondents have also shown a mixed view on the rental industry. 24% of surveyed tenants consider that rental values will fall in the future 6 months, with an typical forecast lower of 13.six%, whilst 26% of them anticipate rental values likely up by 11.5%, on typical.
Mandy Tam, Senior Director of Shopper Insights, Nielsen Hong Kong said, “Practically half of the respondents (48%) claimed to have strategies for relocating overseas, position ‘Better political environment’ (59%) as 1 of their major triggers, adopted by ‘The way of everyday living overseas satisfies me more’ (48%) and ‘Lower expense of living’ (forty seven%). Taiwan (34%), Australia (29%), and the United Kingdom (21%) ended up amongst the most most well-liked destinations for migration. While mainland China (34%), Australia (21%), and the United Kingdom (21%) ended up ranked as the major areas to purchase assets exterior of Hong Kong. You can find a surge of fourteen proportion factors in respondents who chose Australia and the United Kingdom, respectively.”” data-reactid=”22″>This quarter’s study also gauged respondents’ views on relocating overseas. Mandy Tam, Senior Director of Shopper Insights, Nielsen Hong Kong said, “Practically half of the respondents (48%) claimed to have strategies for relocating overseas, position ‘Better political environment’ (59%) as 1 of their major triggers, adopted by ‘The way of everyday living overseas satisfies me more’ (48%) and ‘Lower expense of living’ (forty seven%). Taiwan (34%), Australia (29%), and the United Kingdom (21%) ended up amongst the most most well-liked destinations for migration. While mainland China (34%), Australia (21%), and the United Kingdom (21%) ended up ranked as the major areas to purchase assets exterior of Hong Kong. You can find a surge of fourteen proportion factors in respondents who chose Australia and the United Kingdom, respectively.”
eighteen-29 June 2020. The study aims to recognize the perceptions of the Hong Kong community toward the community and overseas assets marketplaces and explore their acquiring conduct. The margin of mistake of the study is four% at a 95% self-confidence interval.” data-reactid=”27″>Squarefoot commissioned primary measurement and data analytics firm Nielsen to carry out the 2020 Q3 Hong Kong Authentic Estate Sector Outlook Survey. Feed-back was collected from five hundred respondents aged eighteen to sixty five as a result of an on the net questionnaire for the duration of the fieldwork period of eighteen-29 June 2020. The study aims to recognize the perceptions of the Hong Kong community toward the community and overseas assets marketplaces and explore their acquiring conduct. The margin of mistake of the study is four% at a 95% self-confidence interval.
Hong Kong. Produced to handle community assets buyers’ requires, Squarefoot properties a comprehensive suite of data on the Hong Kong and global assets marketplaces, from community and overseas homes for sale and lease, to new homes and serviced apartments, to assets industry news and life-style data. Squarefoot is part of the REA Group, a international chief in assets. Leveraging the Group’s in depth sources and international network, Squarefoot carries on to deliver the ideal in assets insights and buyer experiences.” data-reactid=”29″>squarefoot.com.hk (Squarefoot) is a multimedia non-agency-operated assets internet site in Hong Kong. Produced to handle community assets buyers’ requires, Squarefoot properties a comprehensive suite of data on the Hong Kong and global assets marketplaces, from community and overseas homes for sale and lease, to new homes and serviced apartments, to assets industry news and life-style data. Squarefoot is part of the REA Group, a international chief in assets. Leveraging the Group’s in depth sources and international network, Squarefoot carries on to deliver the ideal in assets insights and buyer experiences.
Source squarefoot.com.hk