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Victor Lui Ting Executive Director and Deputy Managing Director, Sun Hung Kai Properties

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The market is likely to experience small fluctuatio­ns in 2020

In the fourth quarter of 2019, the government raised the ceiling on mortgage financing schemes, which gave home buyers—both first-timers and those looking to move homes—a lot more opportunit­ies in the primary and secondary markets. It's definitely an applaudabl­e move on the government's part. At the same time, however, many people seem to think that the new measure might raise financial risks for home buyers. Of course, buying a home is one of the biggest decisions you can make in life, so regardless of the mortgage rules, you have to remember to know your own limit. On the other hand, with stringent bank stress tests in place, we shouldn't worry too much about buyers biting off more than they can chew. Personally, I think that small- and medium-sized units will dominate the market in the first half of the year. The supply of traditiona­l luxury homes has always been limited and we've seen some price adjustment­s in the luxury market in the past few months. Therefore, once the market stabilises, buyers with strong financial footing will return to real estate. In addition, compared to last year, where the housing market experience­d rather dramatic turmoil as a result of the continuous social unrest, I believe that market fluctuatio­ns in 2020 will be relatively mild.

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