According to Centaline Property's research department, senior co-director Yeung Ming-yee noted that the latest Centa-City Leading Index (CCL) reached 143.46 points, marking a weekly increase of 0.68%. The CCL has risen for three consecutive weeks, accumulating a total gain of 2.22%, surpassing the target of 143.02 points. Hong Kong property prices have successfully moved away from the three lows seen over the past two years. With the upward trend in prices continuing, homeowners' confidence has strengthened, narrowing the bargaining space, and buyers are taking time to adapt. It is expected that the CCL will stabilize at the 143-point level by the end of this year.
Yeung pointed out that this CCL reading reflects the first week of market conditions following the second interest rate cut on October 30. Amid the heated property market sentiment in Hong Kong, attractive listings are being snapped up, prompting buyers to accelerate their entry into the market. Increased secondary transactions have further stimulated price growth.
Since May, as the Hong Kong Interbank Offered Rate (HIBOR) declined, property prices bottomed out and began to rise. The CCL has increased by 6.14% from the low of 135.16 points recorded in May when HIBOR fell below the mortgage cap rate. As of now in 2025, property prices have accumulated a rise of 4.23%.
Compared to the pre-budget low of 134.89 points in March 2025, the index has risen by 6.35%. It has also increased by 5.59% from the pre-rate-cut low of 135.86 points in September 2024 but remains 25.02% below the historical peak of 191.34 points in August 2021.
The Centa-City Leading Index for Large Housing Estates (CCL Mass) rose to 144.90 points, up 0.69% weekly, marking an 80-week high since mid-May 2024. The CCL for Small and Medium-sized Units reached 143.64 points, up 0.88% weekly, hitting a 76-week high since early June 2024. Both CCL Mass and CCL (Small and Medium-sized Units) have risen for three consecutive weeks, accumulating gains of 2.24% and 2.30%, respectively.
Meanwhile, the CCL for Large Units dipped slightly to 142.52 points, down 0.30% weekly, softening after two weeks of gains but still remaining the second-highest level in 49 weeks since mid-December 2024.
Across Hong Kong's four major regions, property prices showed a pattern of three rises and one decline for the second consecutive week. The New Territories West CCL Mass surged 3.70% weekly to 135.17 points, marking the largest weekly gain in over 18 years (since mid-April 2007) and rebounding after two weeks of decline. The index reached an 81-week high since early May 2024.
The New Territories East CCL Mass rose 1.18% weekly to 156.57 points, accumulating a two-week gain of 2.07%, ranking as the fourth-highest level in 80 weeks since mid-May 2024. Kowloon's CCL Mass increased by 0.53% weekly to 143.39 points, rising for three consecutive weeks with a total gain of 3.49%, hitting a 78-week high since late May 2024. In contrast, Hong Kong Island's CCL Mass fell 2.28% weekly to 139.84 points, ending a two-week upward trend.
Year-to-date in 2025, among the eight major property price indices, the CCL has risen by 4.23%, CCL Mass by 4.90%, CCL (Small and Medium-sized Units) by 4.85%, and CCL (Large Units) by 1.19%. Regionally, Hong Kong Island has seen a 0.92% increase, Kowloon 7.16%, New Territories East 5.52%, and New Territories West 5.31%.
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