This article is from WeChat public account: Interface News (ID: wowjiemian) Reporter: Ma Yifan, Intern Reporter: Tao Ting, picture from the movie poster” The Day After Tomorrow “

The 15-year-old super bull market has quietly faded, and the Hong Kong property market is going through a long winter.

During the deterioration of the macroeconomic environment, the continuous social events and the stimulus from the property market, the transaction volume of a second-hand house in Hong Kong has been volatile. The phenomenon of stalemate and stalemate made the home buyers wait and see.

Local residents who endure high housing prices, governments that urgently need to improve people ’s livelihood, vested interest groups, and realtors represented by the four major families are also plunged into a multi-player game. There is no shortage of standing and fighting.

Luxury house prices have dropped

For many years, Hong Kong, China was the most difficult city in the world to afford a house, and the difficulty even surpassed Singapore and Tokyo.

This real estate city is also experiencing the biggest turmoil in the property market in 15 years.

In the first 11 months that have passed this year, the volume and price of the second-hand private residential market in Hong Kong have fallen, and the transaction volume has fallen by 10% year-on-year. This year is expected to be the worst year in 16 years.

In the first 11 months, the total number of transactions in the first-hand residential market was more than 20,000, a year-on-year increase of 34%. However, most of the transactions this year took place from January to May, and fell sharply from June. The month dropped 30.8% month-on-month.

The Hong Kong luxury home market, which has always been strong, is not immune from this turmoil.

Data show that in the first ten months of this year, Hong Kong’s luxury home sales volume was 2375, down 29.4% from 3363 in the first 10 months of last year; the total turnover was about 1183./ p>

Four Real Estate Business Teams

Once the problem of Hong Kong’s property market has a permanent cure, it will move to the cakes of the four major families in Hong Kong.

In October last year, Lin Zhengyue’s second policy address put forward the vision of “Lantau Island Tomorrow”, stating that the study will be carried out in stages to reclamation to build a total of about 1,700 hectares. (That is, 17 square kilometers) of multiple artificial islands, which can provide 260,000 to 400,000 housing units for 700,000 to 1.1 million people, of which 70% are public housing.

It is expected that in 2032, the earliest citizens will be able to live in these reclaimed island houses.

In October 2019, Lin Zhengyue once again “cured the root cause” and proposed the “Land Recovery Regulations.” In the next five years, the SAR government will recover 400 hectares of agricultural land and brownfields in the New Territories. In the next three years, the government will use short-term vacant land and land lent by developers to build 10,000 transitional housing units.

Lin Zhengyue said that this is a “shangfangfangbao”.

Because the recovery of idle farmland is, to a large extent, the interests of the four major real estate developers.

As Hong Kong ’s economy and the property market continue to decline, everything is shrouded in fog, and when they are indistinguishable and unclear, the different attitudes and performances of the four major real estate developers form a sharp contrast.

According to Changshi Group’s financial report data, Li Ka-shing has continuously sold assets in the Mainland and Hong Kong, and has gradually shifted its focus to Europe. By the end of 2018, its European assets accounted for more than 50%.

For donating idle farmland, Changshi Group responded that it may take a long time for farmland to be used for housing development to benefit those in need, and it will conduct research on this.

In addition to Li Ka-shing, the other three major real estate developers have all spoke out and used practical actions to increase land supply.

Among them, the New World Development of the Zheng Yutong family announced that they will donate a total of more than 270,000 square meters of agricultural land for the construction of public housing to alleviate the shortage of social housing in Hong Kong. The total value of this batch of land reached RMB 3.06 billion.

Of the 784 private plots of land recovered by the Hong Kong Government, Henderson Land of the Lee Shau Kee family accounted for nearly one-seventh. Henderson said it would be happy to cooperate with this decision.

Sun Hung Kai Properties, which has the most land bank in Hong Kong