Most HK residents confident about real estate development

A latest survey shows that most Hong Kong residents are positive about the property market development but afraid the interest increase may curb their intent of purchasing houses.

According to the survey conducted by the Democratic Alliance for the Betterment of Hong Kong (DAB), 44 percent of the respondents said the real estate pricing will grow by over 10 percent in nine months while 34 percent regarded it will remain flat. Only 10 percent respondents said the price will keep dropping.

DAB analysts said the figures show that Hong Kong residents are optimistic and confident about the development of property market.

However, the DAB expressed its worries that the increase of banking interest may overcast the development of real estate.

According to the survey, about 71 percent of interviewees said the current pricing for the real estate was too high or fairly high while 23 percent considered it reasonable.

About 70 percent of the respondents said the interest increase would curb their intents of buying houses.

Source: Xinhua