Expert Sharing With Banking Elites on Upcoming Market Trends
HONG KONG, Nov. 26, 2013 /PRNewswire/ -- As part of the company's commitment to helping homebuyers realise their dream of home ownership by providing quality, flexible products and services, QBE Mortgage Insurance (Asia) Limited (QBE MI Asia) today held the 2014 Hong Kong Property Market Outlook luncheon. Designed to foster communication within the industry, the luncheon was led by guest speakers Professor Raymond So Wai-man -- Dean of the School of Business and Professor of the Department of Economics and Finance at Hang Seng Management College -- and Mr Alva To Yu-hung -- Managing Director of DTZ Hong Kong and Head of Consulting, North Asia -- who shared their analysis of next year's trends in local property market with an audience of banking professionals.
Professor So made his analysis based on local population structure, economy indexes and property policies, and highlighted the relationship between property and land development. In addition, he discussed the influence of land-to-building-ratios on property supply and explained the different property policies enforced by the Government.
Mr To however mainly used past transaction data of the residential and investment market, including trends in annual and quarterly residential transactions, the mass market prices and luxury residential market as the base for his analysis.
KY Poon, Managing Director of QBE MI Asia, expressed cautious optimism in Hong Kong's property development, owed mostly to the continual low interest rates alleviating the financial burden of mortgage expenses on homebuyers.
"In the current situation, where property prices remain at a high level, mortgage insurance services help more people realise their dream of home ownership by reducing the initial payment by 90 per cent," Mr Poon said.
"Mortgage premium is usually affordable by the general public, our premium rate is the same as other competitors, and all discounts are passively offered. We are not trying to race over our market share by discounted pricing."
QBE MI Asia has been providing mortgage insurance services in Hong Kong since 1999, offering home buyers insurance on over 70 per cent of their mortgages from banks, reducing the loan risks for banks while alleviating the financial burden on first-time homebuyers. The company's services cover both primary and secondary property markets, and collateral loan for further financing. Village houses, flats under the Home Ownership Scheme (HOS), and buildings aged over 40 are eligible for these services. Their major clientele includes first-time homebuyers, young married couples and people in need of mortgage or cash-out refinancing. QBE MI Asia continues to develop a diverse range of mortgage insurance products designed and tailored to meet different needs.
