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UBS Group: It is expected that the remaining time of the year, Hong Kong property prices will generally stabilize or slightly rebound.
UBS Group issued a research report stating that the USA has officially entered an interest rate cut cycle. Consequently, UBS Group announced that it will follow suit and decrease the best rate for Hong Kong dollars by 25 basis points, unexpectedly becoming a "Mid-Autumn Festival gift" to the Hong Kong property market and bringing bullish news. The interest rate for new residential mortgages will be lowered from 4.125% to 3.88%, which will help narrow the negative interest rate gap with rental return on investment.
After the Fed cuts interest rates, multiple real estate stocks have strengthened. Will mortgage rates be further lowered?
① Influenced by the bullish factor of the Fed's interest rate cut, today's real estate stocks including Vanke, Jindi, Sunac, Shimao Group, and Jingfa International are strong; ② "The Fed's interest rate cut is expected to accelerate the implementation of China's reserve requirement ratio (RRR) and interest rate cuts, which will help further reduce the financing cost of enterprises. For the real estate market, the 5-year LPR is expected to be further reduced, and the cost of home purchase for residents may also decline."
August Housing Starts, Permits Rise More Than Expected
The house owned by Xu Jiayin in Tsim Sha Tsui, Hong Kong, will be auctioned.
①Heshenghengju, a subsidiary of Citic Group, filed a lawsuit to request property tycoon Xu Jiaying to hand over a house in Tsim Sha Tsui, Hong Kong, to sell the property to repay part of the debt. The judge recently approved the auction of the property to repay the debt; ②At the time when Xu Jiaying's house in Hong Kong is to be auctioned off, the liquidator of Evergrande has submitted a liquidation petition for a subsidiary company of Evergrande.
Hong Kong stock announcement | Ping An Insurance's total premium income from original insurance contracts in the first 8 months of this year is approximately 620.706 billion yuan, a year-on-year growth of 7.64%.
Ping An Insurance (02318) recorded a total premium income from original insurance contracts of approximately 620.706 billion yuan in the first 8 months, an increase of 7.64% year-on-year; Tencent Holdings (00700) spent approximately 1 billion Hong Kong dollars to repurchase 2.67 million shares on September 13th...
New-Home Prices in China's Major Cities Fell in August -- WSJ
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