On 28 February, the financial secretary announced that the long-awaited removal of the spicy measures. The real estate industry cheered and received what they wanted. As per the public's expectation, they are pleased to welcome that the property prices will increase again. On the day when the news released, the real estate stocks only rebounded slightly, which just reflected that the financial industry was not fully recognize that the effectiveness of the withdrawal of spicy measures. The next day of this announcement. Some of the landlords who raised their asking prices of their sales listings. Whether property prices can eventually stop falling and rebound again, there will be a clear answer in the second quarter of this year.
On the second day after the full withdrawal of spicy measures, a media had conducted an online survey to gather the public's 
opinion on this issue. In this survey, more than 3,000 participants expressed their preference. Fifteen percent of them believed that it is the right time to enter the market. The other sixty percent expressed that the downward trend of property prices will not be changed. The remaining twenty percent said they still are not sure whether the property prices will continue to fall or bounce back in near future.
The above-mentioned survey on the property market showed that the citizens remain cautious about the withdrawal of spicy measures. According to this research, it can anticipate that the property transaction volume will increase soon due to the withdrawal of spicy measures, but the rising level of property prices will still be moderate.
If the property market transactions continue to rebound one month later, the twenty-five percent participants of above survey who still have a wait-and-see attitude towards the property market are expected to turn to be more positive to the property market, and they may join the crowd of the new home buyers. Eventually, the property price will increase from the lowest level.
As sixty percent of the people are still unsatisfied with the new policies, the property market will be difficult to recover quickly. In fact, the current U.S. dollar interest rate provides depositors with a return of 5.5%, which is 2% higher than the current rental return that is approximately 3.5% now. Therefore, the wealthy class will be cautious to increase their rental portfolio in response to the withdrawal of spicy measures.
If we examine this issue from a different perspective, the new supply of first-hand housing units in the next four years will reach 110,000 units, and there are still another 20,000 units in the sales listings. Therefore, developers are under intense pressure to clear these premises, so a low-priced strategy is always preferable. Many low-priced first-hand properties are for sale, and the rising price of second-hand properties will be restricted. Thus, second-hand owners who want to sell their properties should not raise their asking prices too much to avoid missing the opportunity to sell their units.
