---
title: "CK Asset's Zhao Guoxiong: Hong Kong's first-hand property prices have basically stabilized, rate cuts can improve public confidence in entering the market"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/214137355.md"
description: "CK ASSET Executive Director Zhao Guoxiong stated that the first-hand property prices in Hong Kong have basically stabilized, and it is expected that the Federal Reserve will cut interest rates by 0.25%, which will improve the confidence of citizens in entering the market. He emphasized that there is still demand in the property market, and developers should price according to the affordability of citizens. The two large-scale projects recently launched by CK ASSET have received positive responses, with property prices close to cost price, and it is expected that there will not be a significant price reduction. The situation of unsold units is due to the uncertain market outlook, and developers face challenges when acquiring land"
datetime: "2024-09-12T06:29:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/214137355.md)
  - [en](https://longbridge.com/en/news/214137355.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/214137355.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/214137355.md) | [繁體中文](https://longbridge.com/zh-HK/news/214137355.md)


# CK Asset's Zhao Guoxiong: Hong Kong's first-hand property prices have basically stabilized, rate cuts can improve public confidence in entering the market

According to the information obtained from the Wise Finance APP, Longfor (01113) executive director Zhao Guoxiong stated in a program that the first-hand property prices in Hong Kong have basically stabilized. He believes that a rate cut can improve the confidence of citizens in entering the market. Zhao Guoxiong predicts that the Federal Reserve will cut interest rates by 0.25% next week. If the interest rate is cut, it will be beneficial for developers. However, the decision to launch new projects is not solely based on interest rate cuts. The group insists on a "goods as they come" strategy, and will launch new projects if they obtain presale consent and the market conditions are suitable. He also believes that once the United States starts cutting interest rates, citizens' outlook on the property market will be more positive, improving market entry confidence.

He mentioned that there is definitely demand in the property market, and developers should consider pricing based on citizens' affordability and economic conditions. As long as the price is right, citizens will enter the market. He cited the recent good response to two large projects launched by Longfor, emphasizing that the group is not slashing prices, but adjusting pricing based on market conditions.

Furthermore, he mentioned that the construction cost per square foot is as high as HKD 5000 to 6000, coupled with land costs and other expenses, the first-hand property prices are already close to cost price. Considering reasonable profits, he believes that the first-hand property prices have basically stabilized and there may not be significant price cuts. Prices may fluctuate based on factors such as season, demand, and property quality, but the fluctuations will only be within a few percentage points.

Regarding the situation of failed auctions, Zhao Guoxiong pointed out that the current market outlook is uncertain, making it difficult for developers to make accurate predictions when purchasing land. Developers need to consider current and future data, while the government considers historical data. There is no right or wrong between the two parties, but there is always a gap, leading to situations of failed auctions

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- [CK ASSET (01113.HK)](https://longbridge.com/zh-CN/quote/01113.HK.md)

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