Property, stock indexes seen to hit new highs

    Updated: 2015-04-21 09:04

    By Agnes Lu in Hong Kong(HK Edition)

      Print Mail Large Medium  Small 分享按鈕 0

    The debate is still raging: Will the stock-market boom, which saw records tumble in the past few weeks, give property prices another big lift?

    Interpretations may vary, but real-estate experts generally point to a positive relationship between the two sectors although they regard the housing sector as more of a laggard, with the stock market much susceptible to both internal and external influences.

    The consensus, nevertheless, is a win-win situation for both markets.

    "Under the latest wealth effect, it's very likely that both sectors will see new record highs simultaneously," reckoned Louis Chan Wing-kit, chief executive officer (residential) for Asia Pacific at Centaline Property Agency.

    "Homes prices have been benefiting from the quantitative easing monetary policies in many countries, plus the housing shortage pushing up prices in Hong Kong as well. That's why we've been experiencing a prosperous property market in the past two years, led by small- to medium-sized homes," he said. "But, the stock market has, apparently, been underestimated."

    Sammy Po Siu-ming, chief executive officer at Midland Realty's residential department, said he has seen homes buyers switching to larger apartments in the primary market recently.

    "Basically, luxury homes costing more than HK$20 million are in demand, and buyers admit they've become bolder after making a fortune in the stock market," he said.

    In his view, the real boom in real estate has yet to come. "It's just the beginning, and many are still investing in the stock market. We have to wait until the HSI has soared for a while and people start taking profits and pump them into the housing market."

    Property developers are, seemingly, over the moon.

    Justin Chiu Kwok-hung, executive director of CK Hutchison Holdings Ltd, said sales at the group's latest residential project Hemera at Tseung Kwan O have been impressive amid a booming stock market.

    The project released its last batch of units for sale last Sunday, in which all 516 apartments were sold out in a day. A total of 1,648 apartments in the project were snapped up in two weeks.

    Data compiled by Centaline Property Agency show that the Centa-City Index (CCI) has been going hand-in-hand with the Hang Seng Index (HSI) for years, with only a few exceptions. The CCI is a monthly index based on all transaction records registered with the Land Registry to reflect property price movements in Hong Kong's four districts in previous months, with July 1997 used as the index base period.

    Both the HSI and the CCI hit a record high in 1997 before the financial bubble burst, with the HSI reaching its peak in July that year and the CCI in October. Following the global financial tsunami, the HSI hit rock bottom in August 1998 and the CCI in October the same year.

    However, the HSI soared again before 2000, while the CCI climbed for a brief period as the HSI kept rising. Both indexes hit another low in 2003 in the wake of the SARS epidemic.

    The stock market saw another boom in October 2007. The CCI had been fluctuating since hitting a bottom in 2003, but it was not until five months after the HSI slump under the weight of the financial crisis that it started falling as well.

    Both the CCI and HSI took a U-turn in December 2008 and February 2009, respectively, and have maintained a fluctuating but upward trend since.

    Since 2012, the CCI's rise has been far more dramatic than the HSI, with the former shattering records almost every month after breaking through 120 points.

    Centaline Property Agency expects the CCI to surpass the 140-point barrier this month - a 20-percent advance in 27 months.

    agnes@chinadailyhk.com

    Property, stock indexes seen to hit new highs

    (HK Edition 04/21/2015 page8)

    成在人线av无码免费高潮喷水| 亚洲中文字幕不卡无码 | 日韩一本之道一区中文字幕| 亚洲天堂2017无码中文| 手机在线观看?v无码片| 一区二区三区无码视频免费福利 | 无码中文字幕乱在线观看| 十八禁无码免费网站| 天堂中文字幕在线| 中文字幕亚洲乱码熟女一区二区| 无码人妻少妇色欲AV一区二区| 久久久中文字幕| 亚洲中文字幕一二三四区苍井空 | 国产精品中文字幕在线观看| AA区一区二区三无码精片| 久久久无码精品亚洲日韩蜜臀浪潮| 免费无码一区二区| 久久久久亚洲Av无码专| 成人午夜亚洲精品无码网站| 中文字幕久久精品| 最近中文字幕2019高清免费| 久久中文字幕人妻熟av女| 亚洲精品国产日韩无码AV永久免费网| 亚洲AV无码久久精品色欲| 最新中文字幕av无码专区| 亚洲乳大丰满中文字幕| 中文字幕亚洲综合小综合在线| 日韩精品无码熟人妻视频| 免费看又黄又无码的网站| 亚洲中文字幕无码爆乳av中文 | 无码人妻少妇久久中文字幕蜜桃 | 亚洲成a人无码av波多野按摩| 日韩精品无码一区二区三区不卡| 亚洲欧洲精品无码AV| 国产av无码专区亚洲av果冻传媒| 制服中文字幕一区二区| 最近更新2019中文字幕| 日韩久久久久中文字幕人妻| 中文字幕AV中文字无码亚| 人妻精品久久久久中文字幕一冢本 | 中文字幕无码日韩专区|