Hong Kong Homes Sales Volumes Increase as Weathy Are Mortgage Free

Online, March 3, 2012 (Newswire.com) - The Sales Transactions of Second Hand Homes in Feb 2012 Reached a Total of 9000 Units Which Exceeds 2011 Sales Transactions for the Same Period says Anthony Hindmarsh

A Total of 90 Units Were Transacted in the Mid Levels West Area Alone Reports Qi-Homes.

According to Independant Property Market Research

In 2006 over 60% of Hong Kong Households Were Holding Mortgages

In 2012 about 45% of Hong Kong Households Were Holding Mortgages.

This Means More and More Households are Paying Off Their Mortgage and are Becoming Cash Richer. These Households have Strong Holding Power and Holding onto Equity. Many are Using This Equity Towards Purchasing Additional Properties in Hong Kong When They See Opportunities explains Hindmarsh.

In Addition Landlords are not Selling Cheap as Rental Yields are so Hight and with Interest Rates Being So Low, Many Landlords See Property as a Viable Long Term Investment.

Our View Is That The Accumulated Buying Power Will Increase Not Decrease Says Anthony And This Is With Hong Kong Buyers Alone And Nothing To Do With The Mainland Chinese Buyers.

This Is Probally Why We Have Not Seen A Huge Drop In Property Pricing And With Rentals Remaining So Strong. We May See The Property Market Rebound Quickly With An Estimated 3% Increase Since Oct 2011 Says Hindmarsh. Buyers Should Be Quick To Act If They Are Looking To Enter Into The Property Market.

We Are Also Seeing More Interest In The First Hand Property Market By Locals As Developers Offer More Incentives On Mortgage Loans and Lending. Whist This Product Has Been Boltsered By The Influx of Mainland Chinese Buyers In The Past, We Are Now Seeing More Interest From Local Hong Kong Buyers.

Whist The Current Government Restrictions Have Seemed To Curb Property Speculators, Interest Remans Strong From The Self Use Demographic or Long Term Investors Which Is Where We Are Seeing The Most Transactions Highlights Qi-Homes.