Border reopening and Impact on Property market

[freeier]

But the CCL index tracker is on the older estate right ? No reason to be false unless secondary market transaction is done with 'cash elements'. I think simply a reflection of the market that all still harbour hope for property in HK to shoot to the sky.. We shall see what happens after summer ?

[becomjapanHK]

Talking to many brokers, there doesnt seem to be any buying appetite on the secondary market at all......which is kinda understandable with population decrease, interest rate increases, and continual new supply coming on to the market........some of the older buildings are going to see quite some drops coming - if you are renting the deals look good and you can negotiate very hard if you are prepared to walk away, however, if you are buying to rent out, yields look awful.

[D.YU]

But the CCL index tracker is on the older estate right ? No reason to be false unless secondary market transaction is done with 'cash elements'. I think simply a reflection of the market that all still harbour hope for property in HK to shoot to the sky.. We shall see what happens after summer ?

No reason to provide misleading figures from a property agency? You are naive, man.

[freeier]

No reason to provide misleading figures from a property agency? You are naive, man.

then why even bother to believe the number of transactions, the primary market offerings, etc.etc.. everything can be faked..

[D.YU]

then why even bother to believe the number of transactions, the primary market offerings, etc.etc.. everything can be faked..

You're not just naive, you are a moron.

Data and facts are important. Its whether the source of the data is trustworthy is another story. I did my own data crawling/analytics from multiple sources and compared it with CCL index which did not align. This can be simple differences such as transaction cut offs etc, but the lag or difference is just too significant.

Not to mention, CCL is just one index that is part of Centaline, a private real estate agency. The CCL index is not regulated like the HSI index.

[becomjapanHK]

The data may be 'true' (e.g. the transaction happened) but it may be the developer(s) either doing the transactions directly or behind the transaction(s) in some way to manipulate the data.....that is the key.

They developers may buy the first few apartments on a new development and pay top dollar for them, to set a perspective on price/value....

etc...

[D.YU]

The data may be 'true' (e.g. the transaction happened) but it may be the developer(s) either doing the transactions directly or behind the transaction(s) in some way to manipulate the data.....that is the key.

They developers may buy the first few apartments on a new development and pay top dollar for them, to set a perspective on price/value....

etc...

This is just one of their shady tactics. And in fact, there was a very good example of this. A "buyer" bought a flat that was void by the original buyer. This particular unit was an earlier phase and was sold 5% higher than the original contract price. However, phase 2 was 7% cheaper than phase 1. Meaning this "buyer" bought a unit for around 12% above the later phase. And the later phase sales is terrible, only 3 or 4 sold out of the 40 released units. Kai Tak trash new developments...

[seirin]

The developers have been boasting a forecast of 10% value increase by the end of the year. I wagered the complete opposite, 10% decline by the end of the year YOY for December.

The data indicates the housing market is bad and the outlook is even worse with high interest rates, Chinese's sluggish economy, and Hong Kong's relevance to the world slipping. Stay away from HK real estate.