《香港房价怎么还不跌》

Hong Kong's property market has long been a topic of intense discussion and concern. The question of why Hong Kong's property prices have not declined yet is a complex one that involves multiple factors.

First of all, the high prices of properties in Hong Kong have persisted for many years. In the past one or two decades, property prices in Hong Kong have been on the rise, making it one of the cities with the most expensive housing in the world. This high price level has led to several consequences. Some potential buyers may turn their attention to neighboring cities such as those in the Shenzhen Bay area, resulting in a diversion of purchasers. Moreover, in a global economic slowdown, the Hong Kong property market appears to lack flexibility and is highly sensitive. Any slight economic fluctuation can have a significant impact on the fragile housing market. Additionally, the gradual loss of Hong Kong's status as an Asian financial center has led to a serious brain drain. Both the demand for rental and self-owned properties is not strong enough, and the investment in property purchases is insufficient.

Secondly, the peg of the Hong Kong dollar to the US dollar plays a crucial role. The implementation of the linked exchange rate system in Hong Kong means that when the US dollar appreciates, the Hong Kong dollar depreciates; conversely, when the US dollar depreciates, the Hong Kong dollar appreciates. In the early years, the continuous interest rate cuts by the US dollar, with rates approaching zero or even negative, led to an inflationary situation. The prolonged depreciation of the US dollar resulted in a strong Hong Kong dollar with enhanced purchasing power, contributing to the continuous rise in property prices and the accumulation of a large amount of bubbles over the years. However, in 2022, the US dollar began to raise interest rates for ten times, easily bursting the bubble in the Hong Kong property market and causing a sharp decline in property prices.

Another factor is the actions of business magnate Li Ka-shing. In August 2023, Cheung Kong Holdings launched a new property project with the sale price of new flats being 30% lower than that of surrounding second-hand properties. This move was like a thunderbolt in the otherwise stable market, pushing property prices back to the levels of seven years ago. Li Ka-shing, with over 50 years of experience in the real estate industry, has demonstrated strong risk management skills. His decision to sell properties promptly reflects the severity of the problems lurking in the property market. However, it should be noted that the price reduction by Cheung Kong Holdings is not the main reason for the sharp decline in Hong Kong's property prices; rather, it merely exposed the underlying issues.

Despite the recent introduction of a series of rescue measures by the Hong Kong government, such as halving the stamp duty and extending the mortgage loan guarantee period, the effects have been limited or have not yet manifested.

In conclusion, the stability of Hong Kong's property prices is a result of the interaction of multiple factors. The future trend of property prices in Hong Kong remains a subject of close attention and speculation.