A rebound in Hong Kong property market, the richest man Li Ka-shing again on the news headlines

The richest man Li Ka-shing has recently been scolded by Hong Kong people, because he launched a new property, of which "small huxing" small can comparable to the single cell in Hong Kong prison, public opinion has made him "to make the last penny." However, this time the author is not ready to scold him, but to give him a point "praise"!

A rebound in Hong Kong property market, the richest man Li Ka-shing again on the news headlines.

"Lanshan", a new building in the New Territories Dapu District, opened this week, quietly refreshing the record of the new "small huxing"-one of the "open" huxing saleable area of only 177 square feet, equivalent to about 16 square meters. New disk information on the show, long really immediately quilt "unscrupulous developers" hat, media cynicism, have been sent to the "劏 Room Mansion" (Live: "劏 room" in Hong Kong refers to a set of residential cut into a number of apartments for rent), "Cell mansion" and so on.

Super Mini type "small Cell"

Hong Kong's property prices have been high for years, and the size of the small-town area has been surprisingly low. Including Henderson, Chinese property buyers, letters and real estate developers, in recent years has introduced a total area of less than 20 square meters, room area less than 10 square meters of mini huxing. "Lanshan" This controversy of the huxing, room area of only 8 square meters, and Hong Kong Stanley Prison single cells even have 7.5 square meters.

However, the public opinion scold to scold, the developer launches this kind of mini household every time, are always surprisingly popular and sometimes even used to describe the "looting"--the new Aurangzeb-Royal peak in Kowloon Tai Kok Tsui, which has recently been sold for sale, including a large number of mini households with an area of about 20 square meters, sold out only half a day. Received more than 21 times times the booking, 9 in the morning before the pre-sale sales office has lined up long queues.

What is even more surprising is that academics and experts in Hong Kong have not, as usual, stood up to the media with the painful batch of developers, but have expressed their recognition, and many point out that this is the "trend of the general". Liansonti, deputy director of the Future Urban Institute of the Chinese University of Hong Kong, quoted the survey data as saying that the small flats under 400 square feet (about 36 square metres) in the past year, regardless of the rents, price increases or turnover, were far exceeding the average, reflecting the high demand for small flats in the market, As a result, developers will certainly increase the number of such units when designing new discs.

The "Poor Man's thing" under the high building price

Recall 2012 ago, more than 80 square meters of "large units" once was the developer's "favorite", because the real estate growth was a large part of the mainland to support the home buyers, most of them are not accustomed to buying small houses. However, since October 2012, the Hong Kong government, in order to curb speculation in the property market, imposing a "buyer's stamp duty" equivalent to 15% of the property price for all non-Hong Kong permanent residents, the mainland buyers have been greatly reduced, and the mainland's "hawker" of buying property has been nearly extinct as the mainland has Large residential "bubble" burst, quickly become the highest vacancy rate huxing.

Over the past two years, the previous few years without the attention of developers, the size of a small number of "inhuman" mini huxing, began to do its way. The most intuitive reason is of course small huxing area, the total price is also low, in the perennial high price of Hong Kong, this type of huxing became the only choice for the lack of funds. For example, the Lanshan type, the minimum of only 1.65 million Hong Kong dollars, compared to the past 50 square meters of the usual small huxing, the total price lower than half. This is like a lot of real estate agents in the promotion said, really is "the poor."

Mrs. Y just bought the above Citic and real estate Aurangzeb-Royal peak a small huxing about 20 square meters, she admits that the house is for their son to buy, "to get married, the house is too expensive, now only so small we can afford." She said that the son did not save, the down payment is for their own, but the child is responsible for the monthly, she hopes to have the ability, children can gradually change to a larger house.

Singles Favor Mini families

Many of the buyers of such mini households are single first-time home buyers or young couples with no children. Many studies in the world believe that there will be more and more single and child-free families in the future, so the development of small-and-miniature housing is optimistic.

Professor Zeng of the City University of Hong Kong, who has a number of property works, has written more than once to encourage the government and developers to build small apartments. He thinks that most single people just need a place like a hotel single room, the traditional design to a family of more than three living 2, 3 bedroom, for the not well-off single family is a waste of space. "Just as supermarkets also offer a variety of microwave ovens for those who do not cook," he believes, as the growth of such families is the trend of the times, so after the long, other developers will certainly follow.

Also because of the strong demand for small families living, small huxing regardless of the rent and sale are very popular. In the first half of this year, as a result of the downturn in the mainland economy and the shadow of the Federal Reserve's "retreat", property prices in Hong Kong declined at one time, with large residential prices falling more than 30% per cent, while the prices of small and medium sized flats have been strong. Prices fell in the first quarter of this year, the overall rental also began to decline, including the mini households are also "a single show", in the reverse of the city does not fall.

Mr Yao, who is a real estate agent, has revealed that the most buoyant rents in the past six months are under HK $3 million, small urban units with a practical area of less than 300 square feet (about 27 square metres) and a monthly tenancy of 10000 to 14000 Hong Kong dollars, with an annual return of up to 4% to 6% It is better than a lot of investment products in Hong Kong's near 0 interest rate environment.

Now, does "cell mansion" look less repulsive? In fact, the long real "Lanshan" mini households for four days, has been the most popular huxing, here Spadger spite, exquisite luxury, not only a single kitchen, bathroom also equipped with bathtub, and even a small balcony. The open unit is also designed to be adjacent to a set of large units next to the three, and can get through, longer actually more beautiful its name Yue "1+ Pro", refers to the most suitable for young families with the elderly living together, there are indeed many buyers will be two of homes at the same time buy.

In fact, no developers to build a house is to "conscience", regardless of building a mansion or small huxing, the starting point is all for the company's profits. "Mini households" are getting smaller, in fact, only reflects the growing demand for such dwellings, but also reflects the real estate market in Hong Kong from the past speculation mansion, into more from the independent demand-led market. The house is getting smaller, the total price of the house is also getting lower, in disguise let the property market "cool", in fact, is not a good thing to make the property market healthier.