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FE CONSORT INTL's David Chiu: HK Property Mkt Has Bottomed Out, But Prices Unlikely to Surge
Recommend 8 Positive 9 Negative 10 |
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FE CONSORT INTL (00035.HK) has recently announced its annual results. Executive Director, Chairman, and CEO David Chiu described this year's performance as the worst in 20 years, mainly due to write-downs and impairments related to the joint development of the Pavilia Forest project in Kai Tak with NEW WORLD DEV (00017.HK). However, Chiu believes that Hong Kong's property market has already bottomed out as interest rates have started to fall while the supply bottleneck in the market remains unresolved. The company’s actual loan interest rates have also dropped sharply compared to last year. He added that he is not pessimistic about the outlook for Hong Kong's property market, though he does not expect property prices to see any significant increase. AAStocks Financial News |
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