Citi Property Survey Shows Higher Interest in Home Ownership Among the Affluent After the Rollback of Property Cooling Measures
Source: EQS
Over 70% of the affluent individuals surveyed express a greater interest in home ownership and anticipate a rise in housing prices in the next 12 monthsHere are some highlights of the survey results among the respondents in the affluent segment (i.e. individuals with liquid assets of · 50% think it is now a better time to buy a property, as opposed to 40% who think it does not make any difference and 8% who think it is a worse time to buy. · 72% express a greater interest in buying a property. Compared to the general respondents, those in the affluent segment are more interested in buying a property as an investment (46%), followed by support to their children (34%) and a source of rental income (25%). Only 6% of those surveyed express less interest in buying a property after the cooling measures have been lifted. · Among the home-owner respondents in the affluent segment, 62% express a greater interest in changing to a new property, as opposed to only 3% who show less interest in doing so. · 54%, 62% and 57% anticipate a rise in housing prices over the next 6, 12 and 24 months respectively, as opposed to 31%, 21% and 26% who think housing prices will stay flat. Only 13%, 16% and 15% think housing prices will go down over the next 6, 12 and 24 months. · Those with children (77%) and a monthly family income of more than HKD 80,000 (75%). as well as those who had once owned a property (81%) in the affluent segment are more interested in buying a property now that all property cooling measures have been lifted. · Among all the property cooling measures that have been lifted, the respondents in the affluent segment are most aware of the removal of the Special Stamp Duty (SSD, 65%) and Buyer's Stamp Duty (BSD, 61%). · Of those who express a greater interest in home ownership in the affluent segment, 42% cite the removal of SSD as one of the reasons for their increased interest in buying a property, followed by the easing of loan-to value ratios for residential properties (41%) and the removal of BSD (36%). In general, the survey results reflect a positive sentiment among the public toward the property market after all the cooling measures have been lifted in February, boosting optimism among potential home buyers. As we continue to leverage our extensive retail network and expertise, we have solidified our position as a trusted mortgage partner with mortgage remaining a core component in our total wealth management solution offered to affluent clients. In order to facilitate faster and more efficient mortgage application, Citi is one of the very few banks in Since 2010, Citi Hong Kong has been conducting surveys of the Source: 2024 Exclusive Offers2 From now until Click Here to download the photos Hashtag: #Citi The issuer is solely responsible for the content of this announcement. About Citi Citi is a pre-eminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of Additional information may be found at http://www. News Source: 花旗集團
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