Hong Kong residents regain confidence in buying property

Xinhua Beijing, January 6, according to the Hong Kong "Wen Wei Po" news, Hong Kong out of the financial tsunami haze, economic recovery under the public consumption confidence. According to a survey conducted by the Research Centre, the consumer confidence index reached 127.1 in the 4th quarter of last year, up nearly 12 points from the previous quarter, and the confidence index for home ownership in the next 3 months rose to 139.9, a sharp increase of 22 points in the preceding quarter. Last year, after a series of expensive luxury transactions, the study centre pointed out that the Hong Kong Government had subsequently introduced a number of measures to stabilize the property market, coupled with an upturn in the economy, so that the public could regain confidence in the purchase of flats.　　Economists estimate that the public will be optimistic about their home ownership, or that they should fight inflation because of worries about inflation. During the period from December 1 to 5th last year, the intellectual Research Centre successfully visited 1,070 members of the public,　　Finding that the consumer confidence index was 127.1 in December last year and an increase of 11.7 in similar surveys in September, reflecting the optimism of the respondents to the economy in the present and the next 3 months, the Hong Kong consumer expected index of 102.4, which is slightly lower than the previous survey, shows that the public is still more cautious and conservative in The survey also showed that under the high property prices, the home ownership index in the past 3 months　　It fell sharply from 169.1 last September to 111.5 in December, but there was a significant increase in confidence in home ownership in the next 3 months, a rise from 117 to 139.9, an increase of 22.9, and a 3 per cent rise in home ownership in the next 5% months, which rose by almost 2.6% over the previous quarter. Li Peng, director of research at the research centre, said that property prices had fluctuated too much over the past 3 months, and the public feared that the risk of asset bubbles had come to a close, affecting home ownership sentiment, and the number of transactions in residential property had dropped markedly from 12,285 last September to 9,300 and 9,213 in 10 and November.　　However, since the sale of sky-high luxury flats, the government has introduced a series of measures to stabilize the property market and improve the economy, so that the public will regain confidence in buying flats. However, Li Peng stressed that the rise in the confidence index reflects only the subjective will of the respondents and whether they will eventually be put into effect, it is difficult at this stage to predict whether the number of property transactions would rise in the next 3 months.　　The Chairman of the Centre, Hu Dingxu, also reminded consumers that there had been a rise and fall in the property market, and that they would have to be able to measure their affordability according to family income. The latest figures in the Land Registry also show that confidence in home ownership has stabilised, with a 4.4% increase in the contract for sale of flats in December last year, which amounted to $42.9 billion, down 10.5% from November.　　Ricacorp Zhou, director of real estate research, said that the number of transactions in second-hand housing estates in Hong Kong in November last year amounted to 2,300 cases, and he pointed out that after 2010, the public's desire for home ownership had increased markedly, and the number of transactions this month could increase by 20% from December. Economist Guan that Hong Kong property prices have risen sharply from the lows of early last year, with the price of small and medium residential property rising nearly30%, luxury flats rose by as much as 40%, the property market is really rising too fast, the confidence of the public in the past few months has been more pessimistic, but with the government's introduction of a repressive property market, a slight drop in property prices from high to 2至3%, the success of the public towards home ownership, and the fear of a return to inflation, some members of the public are expected to consider buying property Hope to fight inflation through asset appreciation.