Zhongyuan Real Estate: CCL's latest report is 138.84 points, up 0.78% weekly, hitting a 29-week high since early January.

Yang Mingyi, Senior Joint Director of Research Department at CRIC, pointed out that the latest Central China Leading Index (CCL) reported 138.84 points, up 0.78% weekly, reflecting a good market condition from July 7th to July 13th. CCL has risen for 2 consecutive weeks, totaling 1.76%, reaching its second highest level of the year, a new high in 29 weeks since early January. Yang Mingyi said that starting in May, interest rates have fallen, with the HIBOR rate falling below the ceiling rate since July 2022. This has led to a turnaround in property prices in Hong Kong, with CCL rising by 2.72% in the past 9 weeks, surpassing the increase of 2.50% in the 14 weeks following the rate cut in September 2024. It is believed that in the short term, CCL will continue to challenge the high of 139.25 points earlier this year, currently only 0.41 points or 0.30% away. Property prices in Hong Kong have seen an increase in 2025, with CCL rising temporarily by 0.87%. The index has increased by 2.93% from the low point of 134.89 points before the financial case in March 2025, and by 2.19% from the low point of 135.86 points before the rate cut in September 2024. However, it has dropped by 27.44% from the historical high of 191.34 points in August 2021, and by 2.92% from the low point of 143.02 points before the cooling measures were lifted in March 2024. Yang Mingyi mentioned that on July 31st, the Federal Reserve and major banks in Hong Kong maintained interest rates, with the HKMA intervening in the market for the 7th time, accumulating HK$91.08 billion. The Stable Coin Order officially took effect on August 1st, and its impact on the local secondary property prices in Hong Kong will only be reflected in the CCL announced at the end of August 2025. The Central China Leading Index for large-scale residential properties, CCL Mass, reported 140.55 points, up 1.11% weekly. CCL (small and medium units) reported 139.11 points, up 1.09% weekly. Both CCL Mass and CCL (small and medium units) saw the largest weekly increase in 17 weeks, rising for 2 weeks in a row, accumulating increases of 2.05% and 2.02% respectively, reaching a new high in 51 weeks since early August 2024. CCL (large units) reported 137.42 points, down 0.79% weekly, with the index fluctuating around the 138 point level. Property prices in the four districts saw three increases and one decrease. Kowloon's CCL_Mass reported 139.46 points, up 2.38% weekly, New Territories West's CCL_Mass reported 127.83 points, up 1.22% weekly, Hong Kong Island's CCL_Mass reported 138.35 points, up 0.07% weekly, rising for 4 consecutive weeks totaling 3.30%, New Territories East's CCL_Mass reported 152.05 points, slightly down by 0.06% weekly, with the index hovering above 150 points. In the eight major property price indices in 2025, CCL rose by 0.87%, CCL Mass by 1.75%, CCL (small and medium units) by 1.54%, CCL (large units) by 2.44% decrease, with Hong Kong Island dropping by 0.16%, Kowloon rising by 4.22%, New Territories East rising by 2.47%, and New Territories West dropping by 0.41%.