\n<\/p>\n
Less respondents expect <\/i>an increase in <\/i>property prices<\/i><\/b><\/p>\n
The average age of first-time home buyers is 31<\/b><\/i><\/p>\n
HONG KONG SAR – Media OutReach<\/a> – 11 November 2021 – Citi Hong
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n<\/ul>\n \u00a0<\/p>\n Nearly 40% of respondents expect property prices to rise in the coming
Compared with the exceptionally strong positive sentiment seen in the
\u00a0<\/p>\n Driven by
\u00a0<\/p>\n Average age of first-time home buyers is 31, with an estimate of HK$5.8
\u00a0<\/p>\n The survey also
How do you
\n <\/td>\n
Percentage
\n <\/td>\n
\u00a0<\/p>\n
\n <\/td>\n
<\/p>\n Q3 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q4 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q1 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q2 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q3 2021<\/p>\n
\n <\/td>\n
Upward<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 23%<\/p>\n
\n <\/td>\n
<\/p>\n 22%<\/p>\n
\n <\/td>\n
<\/p>\n 33%<\/p>\n
\n <\/td>\n
<\/p>\n 54%<\/p>\n
\n <\/td>\n
<\/p>\n 38%<\/p>\n
\n <\/td>\n
Flat<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 34%<\/p>\n
\n <\/td>\n
<\/p>\n 43%<\/p>\n
\n <\/td>\n
<\/p>\n 47%<\/p>\n
\n <\/td>\n
<\/p>\n 35%<\/p>\n
\n <\/td>\n
<\/p>\n 37%<\/p>\n
\n <\/td>\n
Downward<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 43%<\/p>\n
\n <\/td>\n
<\/p>\n 36%<\/p>\n
\n <\/td>\n
<\/p>\n 20%<\/p>\n
\n <\/td>\n
<\/p>\n 12%<\/p>\n
\n <\/td>\n
<\/p>\n 25%<\/p>\n
\n <\/td>\n
<\/p>\n If you do
\n <\/td>\n
Percentage
\n <\/td>\n
\u00a0<\/p>\n
\n <\/td>\n
<\/p>\n Q3 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q4 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q1 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q2 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q3 2021<\/p>\n
\n <\/td>\n
A good\/an excellent<\/b><\/p>\n
<\/p>\n time to purchase<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 10%<\/p>\n
\n <\/td>\n
<\/p>\n 8%<\/p>\n
\n <\/td>\n
<\/p>\n 7%<\/p>\n
\n <\/td>\n
<\/p>\n 7%<\/p>\n
\n <\/td>\n
<\/p>\n 4%<\/p>\n
\n <\/td>\n
Neutral<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 36%<\/p>\n
\n <\/td>\n
<\/p>\n 39%<\/p>\n
\n <\/td>\n
<\/p>\n 37%<\/p>\n
\n <\/td>\n
<\/p>\n 38%<\/p>\n
\n <\/td>\n
<\/p>\n 41%<\/p>\n
\n <\/td>\n
A bad\/terrible<\/b><\/p>\n
<\/p>\n time to purchase<\/b><\/p>\n
\n <\/td>\n
<\/p>\n 54%<\/p>\n
\n <\/td>\n
<\/p>\n 54%<\/p>\n
\n <\/td>\n
<\/p>\n 56%<\/p>\n
\n <\/td>\n
<\/p>\n 55%<\/p>\n
\n <\/td>\n
<\/p>\n 55%<\/p>\n
\n <\/td>\n
<\/p>\n How interested are you in purchasing a property now?<\/b>
\n <\/td>\n
Percentage
\n <\/td>\n
\u00a0<\/u><\/b><\/p>\n
\n <\/td>\n
<\/p>\n Q3 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q4 2020<\/p>\n
\n <\/td>\n
<\/p>\n Q1 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q2 2021<\/p>\n
\n <\/td>\n
<\/p>\n Q3 2021<\/p>\n
\n <\/td>\n
Very\/rather
\n <\/td>\n
<\/p>\n 17%<\/p>\n
\n <\/td>\n
<\/p>\n 17%<\/p>\n
\n <\/td>\n
<\/p>\n 17%<\/p>\n
\n <\/td>\n
<\/p>\n 14%<\/p>\n
\n <\/td>\n
<\/p>\n 13%<\/p>\n
\n <\/td>\n
Neutral<\/b>
\n <\/td>\n
<\/p>\n 28%<\/p>\n
\n <\/td>\n
<\/p>\n 27%<\/p>\n
\n <\/td>\n
<\/p>\n 29% <\/p>\n
\n <\/td>\n
<\/p>\n 28% <\/p>\n
\n <\/td>\n
<\/p>\n 33% <\/p>\n
\n <\/td>\n
Very\/rather
\n <\/td>\n
<\/p>\n 55%<\/p>\n
\n <\/td>\n
<\/p>\n 56%<\/p>\n
\n <\/td>\n
<\/p>\n 54%<\/p>\n
\n <\/td>\n
<\/p>\n 58%<\/p>\n
\n <\/td>\n
<\/p>\n 54%<\/p>\n
\n <\/td>\n
“The survey
\u00a0<\/p>\n Citibank commissioned the University of Hong Kong Social Sciences Research
Please download the
Less respondents expect an increase in property prices The average age of first-time home buyers is 31 HONG KONG SAR – Media OutReach – 11 November 2021 – Citi Hong
Kong conducted a survey in September 2021 on residential property ownership in
Q3 2021. According to the survey results: 38% of the respondents expected property …<\/p>\n","protected":false},"author":1,"featured_media":18755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18754"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=18754"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/18754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/18755"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=18754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=18754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=18754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nKong conducted a survey in September 2021 on residential property ownership in
\nQ3 2021. According to the survey results:<\/p>\n\n
\n to rise further in the coming year, a lower percentage compared with the
\n previous quarter but higher than the level recorded in the same period
\n last year.<\/li>\n
\n a good time to buy a property, a figure easing back to pre-pandemic levels
\n and down from the previous quarter and the same period last year.<\/li>\n
\n expressed interest in property ownership, similar to previous quarter. Based
\n on the survey results, close to 320,000 people toured new home
\n developments in August or September this year.<\/li>\n
\n respondents aged 21 to 24 expressed the highest interest in home
\n ownership, with the average age of first-time buyers being 31.<\/li>\n
\n price of a property that can meet their accommodation needs, double the price of HK$2.7 million estimated
\n 10 years ago.<\/li>\n
\n property in the past 10 years made their purchase decision after touring
\n five properties, and a similar percentage of respondents decided to buy a property
\n within three months after touring the first property that came their way.
\n Those who purchased a home 10 years ago found making a home-buying
\n decision easier than their counterparts in recent years.<\/li>\n
\n
<\/p>\n
\n the respondents who managed to buy a home in the past 10 years did so with
\n financial support from their family, a higher figure compared with a
\n decade ago. At an average of HK$1.86 million, the amount of financial
\n assistance from family was also higher compared with 10 years ago.<\/li>\n
\nyear, and it’s estimated that close to 320,000 people visiting properties in
\nAugust or September this year<\/u><\/b><\/p>\n
\nprevious quarter, a lower level of optimism about the housing market was
\nrecorded in Q3 2021, with 38% of the respondents expecting a rise in property
\nprices in the coming year. However, an average of 42% of respondents expected property
\nprices to rise for the whole year of 2021, a higher percentage compared with an
\naverage of 23% recorded in the previous year. However, the percentage of respondents
\nconsidering it “a good time to purchase a home now” and expressing “interest in
\npurchasing a property” \u2013 both being indicators of the public’s attitude towards
\nthe property market \u2013 eased back slightly. In Q3 2021, 4% of the respondents
\nconsidered now a good time to buy a property, down from the previous quarter
\nand the same period last year. On the other hand, 13% of the respondents expressed
\ninterest in buying a home, representing a slight decrease of 1% from the
\nprevious quarter. Estimated based on the survey results, approximately 317,000 people
\nconducted property hunting in August or September this year. The overall
\npercentage of respondents expressing optimism about the property market fell from
\nthe previous quarter, reflecting a wait-and-see attitude among the respondents
\ntowards home ownership.<\/p>\n
\nearlier expectations of an easing pandemic and a reopening of the economy, property
\nowners may have proceeded with buying property early, contributing to a particularly
\npositive outlook for the property market among the respondents in the previous
\nquarter. The property market may have experienced readjustment this quarter, after
\nseeing a premature release of the local population’s purchasing power, and the transaction volume may drop. In view of the temporary impact of
\nother macro factors, including uncertainty in recent stock market sentiment and
\nwealth effect, citizens’ property market outlook may be affected in the short
\nrun. That
\nsaid, the local property market remains supported by positive structural
\nfactors such as undersupply and long-term economic growth upon border reopening.<\/p>\n
\nmillion as the average price of a property meeting respondents’ accommodation needs
\n<\/u><\/b><\/p>\n
\nexplored the views and experiences of the respondents regarding home ownership.
\nIt was found that young respondents aged 21 to 24 were most interested in home
\nownership, with the average age of first-time buyers being 31. The respondents
\nput the average price of a property that can meet their accommodation needs at
\nHK$5.8 million, 115% higher than the price of HK$2.7 million estimated 10 years
\nago, reflecting the rising trend of property prices during this period. Respondents
\nwho bought a home 10 years ago found it easier to make a purchase decision
\ncompared with their counterparts during recent years. 58% of the respondents
\nwho bought a home in recent years made their purchase decision after touring
\nfive properties , and 58% of the respondents decided to buy a property within
\nthree months after touring the first property that came their way. 70% of the
\nrespondents who bought a home 10 years ago made their buying decision after
\ntouring five properties, and 68% made their purchase decision within three
\nmonths after touring the first property that came their way. On the other hand,
\n67% of the respondents who managed to purchase a home for the first time in the
\npast 10 years said they did so with financial support from family, a figure
\nthat is 15 percentage points higher compared with 10 years ago. The amount of
\nfamily assistance has also increased from an average of HK$500,000 a decade ago
\nto the current HK$1.86 million.<\/p>\n\n\n
\n
<\/p>\n
\n think home prices will trend in the next 12 months?
\n <\/tr>\n\n
<\/p>\n
\n of Respondents
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n<\/tbody>\n<\/table>\n\n\n
\n
<\/p>\n
\n not own any property now, taking your current standard of living and family
\n finances into consideration, do you think it is a good time to purchase a home
\n now?
\n <\/tr>\n\n
<\/p>\n
\n of Respondents
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n<\/tbody>\n<\/table>\n\n\n
\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
\n of Respondents
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
\n interested<\/b>
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n\n
<\/p>\n
\n uninterested<\/b>
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
\n <\/tr>\n<\/tbody>\n<\/table>\n
\nresults show that local citizens were holding a wait-and-see attitude towards
\nthe property market in Q3 2021,” said Josephine Lee, Head of Retail Bank at
\nCiti Hong Kong. “Nearly 40% of the respondents expected property prices to rise
\nin the coming year. The percentage of respondents who considered it a good time
\nto buy a property has slightly decreased from the previous quarter, and the proportion
\nof respondents expressing interest in buying a property has also dropped a bit
\nfrom the previous quarter. The younger respondents were more interested in
\nbuying a property, with the average age of first-time buyers being 31. The
\nprice of a property the respondents considered suitable to meet their accommodation
\nneeds has doubled in 10 years. We recommend that young people interested in
\nbuying a property start reviewing their asset allocation as soon as possible,
\naccumulating their wealth and gradually becoming empowered to realise their
\naspirations in home buying. Other potential homeowners should also assess their
\nfinancial condition comprehensively and seek an appropriate mortgage plan to
\nfulfil their dream of home ownership.”<\/p>\n
\nCentre to conduct the survey, interviewing a random sample of more than 500
\nHong Kong respondents by phone in September 2021. Since 2010, Citibank has been
\nconducting quarterly surveys on the Hong Kong housing market to assess the
\ncurrent state of home ownership in the SAR, gauge public intentions towards
\nhome ownership, and track public expectations of future housing price trends.<\/p>\n
\nSource: Citibank Q3 2021 Residential
\nProperty Ownership Survey<\/p>\n
\nMortgage Survey Press Conference Photo Here<\/a>.<\/b><\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"