Maliang Xiang: With interest rate cuts and other favorable factors, it is expected that the Hong Kong property market will continue to rise in terms of both price and volume in November.

The Federal Reserve, as expected by the market, reduced interest rates by 25 basis points and announced the end of "QT" on December 1. Following this, major banks in Hong Kong also announced a 0.125% cut in interest rates. MIDLAND HOLDING CEO (Residential) Ma Tai-yang pointed out that with further interest rate cuts, China-US trade talks, and numerous other positive factors, he believes that the Hong Kong property market will continue to rise in price and volume in November. He mentioned that despite the rise in unemployment rate and high residential property inventory in Hong Kong, the increase in the stock market has triggered a wealth effect, while rising rents have stimulated demand for "rent-to-buy" and attracted long-term investors, among other positive factors, providing strong support for the Hong Kong property market. Thus, he is "completely optimistic" about the Hong Kong property market. Ma Tai-yang believes that the trading of new developments is particularly hot, and expects that multiple new projects will enter the market on the back of good news. The volume of first-hand transactions in November is expected to reach 2000 units, marking the 10th consecutive month of exceeding one thousand units, setting a record since the implementation of the "Residential Properties First-hand Sales Ordinance" in April 2013. Second-hand transactions are also expected to improve driven by market sentiment, with the volume of second-hand residential transactions in November expected to rise to around 4500 units, reaching a 19-month high. Ma Tai-yang is confident that with interest rate cuts and other positive factors in the property market, the trend is expected to continue to rise. It is anticipated that the volume of first and second-hand transactions for the whole year will reach a new high. The volume of first-hand private residential transactions for the whole year is expected to reach 20,000 units, setting a new record since the implementation of the "Residential Properties First-hand Sales Ordinance" in 2013. As for the whole year, it is estimated that the volume of second-hand residential transactions will increase to 46,000 units, setting a new high in 4 years.