The Wealth Empire Crossing the Hong Kong

Chapter 319 The Beginning of Real Estate Winter

In the 80s, the main businesses of Xiangjiang's business community were no longer textiles and garments and OEM production. Real estate and finance had become the core of business development.

According to the information on the Hong Kong Top 76 Fortune List by Hong Kong Economic Daily, [-] of the top [-] richest people have assets mainly related to real estate and finance.

Among the top ten families in Hong Kong, only the Kadoorie family is not involved in these two major industries, and the other nine are mainly based on finance and real estate. Although Li Jianhui has many industries, he sold Huihong Group. occupy a dominant position.

Because of real estate and finance, Xiangjiang has developed rapidly in recent years, and its economic growth has surpassed the other three of the Asian Tigers.

But this kind of economic anti-risk ability is really not very good. Although the business community of Xiangjiang is united and safeguards the economic interests of Xiangjiang, the impact caused by the distant thunder has already existed, and the turmoil is inevitable before the final conclusion is reached.

As a result, the cold winter of Xiangjiang's housing prices caught people off guard, and the Xiangjiang stock market was also under fire and ice. When hot money retreated and the bigwigs no longer protected the market, real estate stocks became the object of everyone's abandonment.

Because real estate and banks are closely linked, bank stocks have also plummeted, and HSBC and Standard Chartered, which are issued in Hong Kong dollars, are the first to bear the brunt.

Li Jianhui's Xinjian Bank, Hutchison Land, Wheelock Land, Whampoa Holdings, Wheelock Holdings and other listed companies are also not feeling well. After the Spring Festival, the market value of major companies fell by more than [-] billion Hong Kong dollars throughout the first month.

The three major indexes of Hang Seng, East Asia, and Kowloon also plummeted. Among them, the Hang Seng Index was the worst, falling nearly 961.35 points, and it is currently only [-] points.

Although the East Asian Index fell by a few points, the overall decline was no lower than that of the Hang Seng Index. The East Asian Index, which could not break through a thousand points, has now fallen back to 732.65 points.

The Kowloon Index is also not much better. As of today's close, it has fallen back to 503.83 points.

The most frightening thing is that there is currently no turning point in sight, and the stock market may continue to be in a downturn.

After nearly a month of fermentation, the housing prices in Xiangjiang are still unsustainable after all, and those speculators who have a large number of houses in their hands are the first to cut prices and sell them.

These people thought that Xiangjiang Real Estate would be in a ten-year development period, but they never expected that it would enter a new round in 77, and it would turn into a period of decline so quickly, so that many speculators were trapped in it.

Everything in this is based on the market. Seeing the crisis is approaching, price cuts and big sales are the first choice of many speculators in order to get funds back as soon as possible.

Suddenly, Hong Kong Island, Kowloon, New Territories and other places have emerged a large number of houses for sale, and the prices are much lower than those in the same segment.

If there is a shortage of housing in Xiangjiang, it must be lacking. After all, in the past few years, the number of people immigrating to Xiangjiang every year has reached more than [-], especially last year, it exceeded [-].

But everyone can understand the current situation. Not to mention that there are still many people who can’t afford the down payment, and those citizens who had some savings to buy a house have temporarily lost their minds, so that the number of houses for sale is increasing. There are very few buyers.

Under such a form, the Xiangjiang Real Estate Construction Chamber of Commerce, which had no sense of existence, held its first meeting in 1981.

Coming to No. 19 Des Voeux Road Central, Central again, Li Jianhui no longer had the excitement and admiration he had when he first came here.

At that time, the Xiangjiang Real Estate Construction Chamber of Commerce, the Jockey Club, and the Yacht Club were the three top associations in Xiangjiang, plus various legends in previous lives, which made Li Jianhui yearn for this.

However, now, with the establishment of Donghua Association, Xianghua Association, New Asia Association, Huaxin Association, and Federation, the three top associations have become the past, and these five associations represent the future of Xiangjiang.

With the development of Xiangjiang Real Estate in the past few years, the membership of Xiangjiang Real Estate Construction Chamber of Commerce has also increased a lot, and not only individuals, but also some real estate companies.

For example, Li Jianhui's Hutchison Land, Wheelock Land, and Xinjian Real Estate are also members of the Construction Chamber of Commerce.

The reason for this is mainly because Li Jianhui, Li Guobao and others are not the chairman of the board of directors of their real estate companies. In order to better communicate, they have added unit members on the basis of individual members.

Originally, Li Jianhui came today just to listen with both ears. After all, he had already prepared for this situation. Although he came earlier than he remembered in his previous life, it didn't have much influence on him.

Anyway, apart from Tianshui City, whether it is Whampoa Garden under development or Huihong City in Tseung Kwan O, they are almost sold out.

Moreover, his Hutchison Real Estate and Xinjian Real Estate have already deployed in Taiwan and Japan, and will focus on developing these two major markets in the next few years. He is not worried that Xiangjiang Real Estate is in a low period at all.

But after Huo Yingdong, Chartered Ship King, Guo Desheng, Chen Zengxi, Zheng Yutong and others spoke, many people asked him to express his views.

Li Jianhui didn't want to refute everyone's face, and said out loud: "I believe everyone knows the reason for this situation, and I won't mention it any more.

This matter still depends on the negotiation between the two parties. As long as there is uncertainty, the real estate industry in Xiangjiang will always be in a low period.

The current price cut is just the beginning. As time goes by, I believe that the house price will drop further. I personally predict that the trough of the house price may be half or even one-third of the current price.

If you want to have a good development in real estate, you can try to go out of Xiangjiang and continue to develop in other places.

Of course, if the capital is strong enough, you can take a gamble and continue to acquire land for development in Xiangjiang, survive this catastrophe, and maybe be able to soar into the sky. "

Many people at the scene felt that Li Jianhui was scaremongering. He lowered the price by half or even two-thirds. They thought it was absolutely impossible. If the reduction was so severe, more than 80% of the real estate companies would go bankrupt.

As for the development of real estate in other regions, apart from these first-class real estate companies, few have the courage.

Real estate is no different than others. It involves a lot of things, and in many areas it is not possible to sell uncompleted properties. It requires real investment. The funds required here block countless developers. They are not as rich and powerful as Li Jianhui's real estate company.

They continued to develop in Xiangjiang, and they were worried that if what Li Jianhui said was true, they would be trapped in it.

The current situation has made the helmsmen of countless real estate companies undecided, whether to continue to develop, or whether to follow the speculators and sell at a lower price, making it difficult for many people to make a decision.

Compared with most people, Li Guobao, Lei Juekun, and Zhang Guangwen are much calmer. They are not familiar with Japan, and development will be risky. The Taiwan market is still good.

Although they did not invest in the Taipei MRT, it does not prevent them from acquiring land around the MRT station. The price is a bit expensive, but Qianjing is still very good.

(End of this chapter)