Hong Kong out of financial tsunami gloomy economy, citizens regain confidence in buying property

Hong Kong's economy is recovering and consumer confidence has increased, regaining confidence in buying property. (Photo: Hongkong Wen Wei Po) Beijing, January 6, according to the Hong Kong "Wen Wei Po" reported that 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 1070 members of the public,　　It was found that the consumer confidence index was 127.1 in December last year and a 11.7 increase in similar surveys in September, reflecting the optimism of the respondents to the economy in the present and the next 3 months, and the Hong Kong consumer expected index of 102.4, which is slightly lower than the previous survey, which shows that the public is still more cautious The survey also showed that the home ownership index in the past 3 months was high under the high property prices,　　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 12285 last September to 9300 and 9213 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 the property market has risen and fallen, and that when buying a home, it should be able to measure the amount of affordable housing according to the family income situation. The latest figures of the Land Registry also show that confidence in home ownership has stabilised, with a 4.4% per cent rise in the contract for sale of flats in December last year, compared with 42.9 billion in November, down 10.5% from November.　　Ricacorp Zhou, director of real estate research, said that in November last year, the number of transactions in second-hand housing estates in Hong Kong was about 1500, and the number of transactions reached 2300 in December, and he pointed out that after 2010, the public's desire for home ownership increased markedly, and the number of transactions this month could be increased by Economist GuanAccording to the view, Hong Kong property prices rose sharply from the lows of early last year, among them, the prices of small and medium sized residential flats rose by nearly 30%, and the property prices increased by as much as 40%, and the housing market was so anxious that the confidence of the public in the past few months was more pessimistic, but with the government's introduction of the repressive measures, the property price fell slightly 2至3% With the success of the public's optimism towards home ownership and the fear of a return to inflation, it is estimated that some members of the public will consider buying property in order to fight inflation through asset appreciation.