The last call for the first time buyer

The tide has been changing. The border crossing between China and Hong Kong will be reopened after the mid of next month. As expected, the first group of China tourists will visit this territory again after three years ago the border crossing being closed. It is no doubt that Hong Kong’s economy will be stimulated by the expenditures of these tourists. The prolong suffering industries including retailer, food & beverage and tourism may be revitalized firstly by this opening policy.

China tourists visit Hong Kong soon. The proprietors may have sweet dreams to the more brightened future. Although these tourists may not be the big spender again as before, their spendings are still precious to the different industries. If we assume that these tourists will buy the properties in Hong Kong at once by paying the added penalty tax to the Government, it does not make sense. But without a doubt, these China travellers may help to improve the business development in Hong Kong.

The public has a high expectation for the border crossing being reopened. In fact, the property market rebound is more certain than one month ago. The shop owners will be the first benefiter as the shop rental has been rising before these tourists will come back Hong Kong two weeks later. It is the last call for the potential tenants to bargain better terms of the leasing contracts.

The records of residential transactions have been increasing in the past two weeks. The users are hurry up to buy in the attractive reduced-price units. The property owners are aware the harsh economic environment may end before the mid of next year. On the other hand, the amount of emigration property listings has been decreasing to the lower level recently, the owners of the other listings may have less pressure to reduce the price to attract the clients. The balance point of the market starts tilting to the seller side. The smart buyers should take a chance to bargain with the owners to generate the best purchasing price for themselves.

The shop rental and the price of the small and medium size residential units seem not far away the bottom. If the tenants and the buyers still eager to chop down the asking price of the proprietors, the successful chance is obviously declining.

The market viewpoint of the property agencies is changing. Turning negativity into positivity, they changed the position suddenly within one month. Once they predicted that the price would go down ten percent more, but they estimate that it will rise ten percent now. Even though, the market sentiment may be better soon, but it is still not realistic to foresee that the property price will rebound sharply in brief period.