Execu t i v e V i ce - Cha i rman ’ s Repo r t
New World Development Company Limited
16
Hong Kong Property Development
In early 2016, the volatility of the global capital
market and the speculation about interest rate hike
in the United States fostered the wait-and-see
attitude of home buyers, which in turn prompted
developers’ moves in adjusting their strategies in
project launches in the first quarter of the year.
According to the Hong Kong Rating and Valuation
Department, the total transaction volume of first-
hand sales and purchases of private residential
u n i t s i n t h e f i r s t h a l f o f 2 0 1 6 w a s 5 , 6 3 3 ,
representing a year-on-year decrease of 35%. In
view of such challenging operating environment,
s ome de v e l ope r s adop t ed a g g r e s s i v e s a l e s
strategies to boost market sentiment by providing
various privilege offers and different choices of
mortgage plans.
Stepped into the second quarter of 2016, a
positive switch of market sentiment for home
p u r c h a s e s w a s e n a b l e d , p a r t i a l l y b y t h e
continuing prevalence of ultra-low interest rate of
mortgage for home purchases in Hong Kong under
subdued market expectation for interest rate hike
in the United States, which trended down in terms
of both pace and magnitude, and partially by the
“We Create, We are Artisans”.
The Group believes that every member
of the New World team is a craftsman,
ideally giving rise to a type of unique
culture and quality of modern life
which is consistent with the cultural
and artistic essence.
