Residential transactions in August fell by 29% m-o-m with RVD home prices edging lower by 0.3% m-o-m; another 0.8% m-o-m drop is expected in August. Commercial investment market remained subdued in Q3 with total transaction volumes falling by 64.3% q-o-q. Hong Kong buyers remain subdued, while PRC activity is expected to be more active than local investors. HONG KONG, CHINA - Media OutReach - 8 September 2020 – The downward trend continued in both the residential and investment markets in Q3 2020 as the pandemic and continuing geo-political uncertainties continued to weigh on sentiment. Despite the challenges, strong pent-up demand, government policy support, economic stimulus packages and the low interest rate environment remain favourable factors that, together, may stabilize the market and induce a rebound by the end of Q3. Residential transactions declined in Q3 by 6% quarter-on-quarter in both primary and secondary sales markets but recorded a major increase of 30% when compared with Q3 2019. While this indicates that social and economic factors continue to impact the residential market, the unprecedented owner-occupier demand and anticipation of a post-pandemic recovery can be strong stabilizers. Among individual estates, property prices at Taikoo Shing as of August had fallen their lowest level since… Read full this story
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A 10% drop in residential prices is projected for 2020 as the unemployment rate is forecasted to reach 7%; Investment market remains subdued with 50% of deals in Q3 involving PRC buyers have 315 words, post on bizhub.vn at September 8, 2020. This is cached page on Talk Vietnam. If you want remove this page, please contact us.