The property market in 2022 has set a number of low records, the first is the overall number of property registrations. According to the comprehensive land registry information from Midland Property Real Estate Data and Research Center.

The author expects that the overall property (including residential and non-residential) registrations this year will fall through the 60,000 level, less than the approximately 87,000 cases recorded in 2003 during the "SARS" period, which will set a 32-year record low after 1991, fully reflecting the rather sluggish property market transactions.

In addition, primary and secondary transactions are also subject to the epidemic, this year, the pace of developers to push the plate slowed down significantly, coupled with the issue of interest rate hikes make the property market atmosphere cautious, it is expected that this year's new plate will be "volume" to 9,100 cases, compared to last year about 16,700 cases a big drop of 45%.

Sales are expected to drop 58% year-on-year from about $221.2 billion last year to about $93 billion.

Second-hand also "the number of decline is difficult to escape", is expected to drop from 59,600 cases last year to about 37,000 cases, the lowest since the record in 1996, the turnover is estimated at about 300 billion, a new six-year low.

The circulation of the property market and property prices are at record lows. This year's second-hand transactions have fallen, so the liquidity rate, which reflects the level of activity in property transactions, is set to fall to 3%, a 27-year record low since 1996.

Finally, property prices have fallen by a cumulative 14.4% so far this year, "turning back the clock" to the level of five and a half years ago, and the largest annual decline in 22 years.

Fortunately, "the darkness will be the morning", as the author said, the worst moment of the property market has passed, the recent good news of the general economic environment slowly emerged, such as China and Hong Kong continue to relax the epidemic prevention measures, there are rumors that China and Hong Kong is expected to formally resume customs clearance early next year.

In addition, the market is expected to see the top of the interest rate next year, immigration, the U.S. currency index also fell from the high level, economic data and the stock market has also improved, a combination of a number of positive factors, it is believed that the earliest will reappear around the Lunar New Year "a small positive spring".

Looking ahead to the property market in 2023, as long as the pace of U.S. interest rate hikes slow down, I believe that both the volume of transactions as well as property prices are expected to stabilize, next year, the first-hand transactions will surge by about 75% year-on-year to 16,000 cases level, while driving the second-hand transactions increased by about 35% year-on-year, is expected to reach 50,000 cases, property prices will show a "U-shaped trend", the annual property prices will be "stable first and then rise", the estimated rate of increase is expected to be about 10%.

In terms of the sector, I believe that the resumption of customs clearance in Hong Kong and China under the vision, the luxury residential market can look high a line; individual estate level, you can consider in the property prices fell relatively deep blue-chip estates "treasure hunting", the heart of the estate including Taikoo Shing, Telford Gardens, Mei Foo Sun Chuen, etc., because once the property market is back to normal, such popular housing estates, the strength of the rebound in property prices will also be higher.