{"id":25888,"date":"2021-11-19T06:58:19","date_gmt":"2021-11-18T23:58:19","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25888"},"modified":"2021-11-18T15:06:23","modified_gmt":"2021-11-18T08:06:23","slug":"survey-shows-wait-and-see-attitude-among-hong-kong-homebuyers","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/survey-shows-wait-and-see-attitude-among-hong-kong-homebuyers\/","title":{"rendered":"Survey shows “wait-and-see” attitude among Hong Kong homebuyers"},"content":{"rendered":"

Interest in house purchasing among locals dipped to 13 percent in the third quarter of this year\u00a0<\/span>\u00a0<\/span><\/p>\n

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Individuals aged 21 to 24 showed the highest interest in house purchasing, with the average age of first-time buyers at 31. KitLeong\/Shutterstock<\/figcaption><\/figure>\n

The\u00a0Residential Property Ownership\u00a0Survey\u00a0by Citi\u00a0indicated that interest in house purchasing among Hongkongers\u00a0dropped to 13 percent in Q3 2021, reported Hong Kong Business<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

This decrease is a one percent decline from Q2 and a 17 percent dip from the same period last year. <\/span>\u00a0<\/span><\/p>\n

According to the report, the 13 percent figure represents around 317,000 people who property hunted in August or September this year.<\/span>\u00a0<\/span><\/p>\n

Amongst the survey participants, 55 percent saw 2021 as an\u00a0unsuitable time to purchase a house, and only a mere four percent said it was a good time.<\/span>\u00a0<\/span><\/p>\n

Citi mentioned that the lower optimism for the quarter signifies a \u201cwait-and-see attitude\u201d amongst homebuyers.\u00a0<\/span>\u00a0<\/span><\/p>\n

Individuals aged 21 to 24 showed the highest interest in house purchasing, with the average age of first-time buyers at 31.\u00a0<\/span>\u00a0<\/span><\/p>\n

Those who expressed interest in buying homes said the average price of a property that can meet their accommodation needs at USD5.8 million, 115 percent higher than the estimate 10 years ago at USD2.7 million.<\/span>\u00a0<\/span><\/p>\n

More: Analysts see a 4% increase in Hong Kong\u2019s retail rental income for FY2022<\/strong><\/a><\/p>\n

Respondents\u00a0believe\u00a0property\u00a0prices will rise for the whole year of 2021 at 42 percent, and the coming year at 38 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

Josephine Lee, head of Retail Bank at Citi Hong Kong, said, \u201cWe recommend that young people interested in buying a property start reviewing their asset allocation as soon as possible, accumulating their wealth and gradually becoming empowered to\u00a0realise\u00a0their aspirations in home buying.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Interest in house purchasing among locals dipped to 13 percent in the third quarter of this year\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[777,171,512,2471],"class_list":["post-25888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-home-buying","tag-hong-kong","tag-residential","tag-wait-and-see","news_country-hongkong","news_author-property-report"],"acf":[],"yoast_head":"\nSurvey shows "wait-and-see" attitude among Hong Kong homebuyers | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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