The Centaline City Leading Index CCL was 164.91 points last week, plunging nearly 2% week-on-week, the biggest drop in 6 years, returning to the December 2017 level.
According to the latest data released by the HKMA, the number of residential mortgage loans in negative equity surged from 55 at the end of the second quarter to 533 at the end of the third quarter, a quarterly surge of nearly 9 times and a new high since the 1,307 cases in the second quarter of 2016.
Centaline Property Residential Division President Chan Wing-kit said, the economy has turned sour, Hong Kong property prices have fallen nearly 14% since last year's high, individual housing estates have fallen more than 20%, coupled with the interest rate hike cycle, the increase in the speed of the bank owners may accelerate, or even compound upward, next year after the Chinese New Year has the opportunity to increase to more than 1,000.
Chan Wing-kit again called on the government to reduce the spice in a timely manner, so that the stable development of the property market.
As of November 4, the total inventory of residential properties in Hong Kong increased to 226 units, compared to 216 units recorded late last month and 10 more units, a 13-year high after 249 units recorded in April 2009, compared to 124 units in the same period last year, an increase of more than 80% year-on-year.
After the outbreak of the financial tsunami in 2008, the number of bank owners in Hong Kong rose to 316 (December 2008) and then fell back to 22 (March 2015), reflecting that the current number of bank owners has reached more than 70% of the tsunami level and rebounded 9.2 times from the lowest level.
Among the 200-odd units put up for sale by the bank owners due to the owners' inability to pay, the residential share also increased by 6% month-on-month to 187 units, of which more than 30% were taken over by finance companies for sale.
Among these residential bankers, the proportion of small and medium-sized properties out of payment is also higher, 133 units, or more than 70%, can afford the highest 90% mortgage, the price of $10 million or less; the price of $20 million or more of medium and high price and luxury properties accounted for 28 units.
As for which district is the hardest hit area of the silver master property? The answer is the Northwest New Territories, Yuen Long and Tuen Mun now have 16 and 12 silver properties respectively, a total of 28 units, involving housing estates including Century Gateway, Kingswood Villas, Ruan, Shang Yuet and Ping Ting, etc., Tseung Kwan O has risen sharply to 15 units, compared to the beginning of this year about 5 units sharply increased two times.
In the first four days of this month, the market has 11 more silver properties, one of which is from Tseung Kwan O LOHAS Park MALIBU, which has been occupied for about 3 years, the unit is a low-rise unit in Block 1A, with a saleable area of 1,087 square feet and a 4-room partition. The asking price is $1.46 million or more than 7% lower than the owner's first purchase price of about $19.46 million in 2018.
Another new silver master property was added to the market in Yau Ma Tei, bringing the number of silver master properties to 3, making it the largest number of silver master properties in Hong Kong.
In addition, the market recorded about 7 transactions of silver properties last month, mainly at split prices. Located in Lok Fu Fu Keung Court, Block A, room 9, with an area of 656 square feet, sold for $7.8 million without paying the land premium, at $11,890 per square foot, which is $450,000 or 5% lower than the original owner's purchase price of $8.26 million two years ago. And the unit is two years ago in East Kowloon, the "King of the Home Ownership Scheme", set a new high per square foot price.
The property market is in the doldrums, the second-hand transaction price a flat than one, part of the intention to sell the bank owners plate, recently reduced prices one after another to absorb customers, and even appeared to call prices lower than their own bank valuation phenomenon.
Another bankers, located in the Link 5 Block an area of 680 square feet three-bedroom unit, the bankers are major banks in Hong Kong, the unit last month, the asking price of $ 8.48 million, the bank recently in response to market conditions to reduce the asking price by 6% to $ 7.98 million, the price per square foot 11,735 yuan.
However, the Link has recently traded per-square-foot price has fallen below 10,000 yuan, a solid 985 square feet four-room unit, recently sold for only 9.8 million yuan, per-square-foot price as low as 9,949 yuan.
