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| Friday, September 05, 2008 23:35:37 |
Hong Kong real estate investors unaffected by macro controls
Hong Kong people seemed to be unaffected by the macro controls aim at curbing the overheating real estate sector, China Business Jounal reported. Centraline China, a property consultant firm headquartered in Hong Kong, released a research that Hong Kong people have invested 47 million yuan in 8800 first-hand real estate purchases in the first half of 2006, which is a 10% year-on-year growth. It estimated a 17% jump from first half in the second half of 2006.
The research showed that more than 50% of interviewees said that the macro controls would not affect their plans to invest in Mainland property, among which 20% consider purchasing apartments 90 sq. meters or above as long-term investment.
Centraline China said that the survey reflects a continuous economic growth and optimism in Hong Kong that will bring 60 million yuan investment to Mainland property market in the second half of 2006.
It is noted tat Hong Kong people also want to invest in offices and shopping outlets in southern China. According to Centraline’s statistics, 40% of Shenzhen offices in the first half were sold to foreign firms and among 70% were sold to Hong Kong buyers; 46% of shopping outlets were sold to foreign firms and among 70% were sold to Hong Kong buyers.
Centraline pointed out that the new macro control measures would shed effects on the second-hand property market especially in the third quarter but would stabilize itself in the fourth quarter.
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