17 November 2015 - Joshua Miller, CEO of OKAY.com, was interviewed in OPP.Today, sharing his insights on Hong Kong's residential market trends and OKAY.com’s outstanding progress amidst a sluggish market.
With a steep rise in Hong Kong property prices, some experts predict the market will soon experience a significant fall back of 20% or more while Joshua held a different view. “I agree the market is due for a correction, but believe it will be modest – around 5%,” he commented. He believes that the tremendous amount of pent-up demand from buyers, who have been waiting to purchase since the government released progressive cooling measures five years ago, will react to even a minor drop, thus leading to a more moderate price decline.
Despite a flat number of sales transactions in the market overall, OKAY.com is seeing higher success rates and more referral clients. Joshua proudly attributed the excellent growth rate (80-100% per year over the last 3 years) to the company’s award-winning online listing platform and agent incentives that encourage the sharing of information. “Anecdotally I can say with confidence that because our agents can more quickly show properties to clients and have aligned incentives with clients (to focus on what the client wants), our average transaction period is faster than other agencies,” he said.
OKAY.com also partners with several leading global agencies to provide service to clients that wish to invest overseas.
OKAY.com has attracted investors in the company including senior members of global investment banks (US based) and a principal with a major US venture capital firm.
Interested to read more? View the full article here.
