"Beauty Union Building Price Index" rose by 0.49% on a weekly basis to hit a new 17-month high. Confidence index continues to hover at high levels.

The latest report of the "Midland Price Index" is 133.57 points, up 0.49% weekly for 2 consecutive weeks, with an increase of 1.29% compared to four weeks ago. The cumulative increase in Hong Kong property prices this year has expanded to 4.25%, up 5.77% from the low point of the year, reaching a new high in about 17 months. Regarding the confidence index, Midland Property analyst Jack Sum pointed out that the latest "Midland Confidence Index," which reflects the listing attitude of property owners, is 74.9 points, down 2% weekly. The confidence index fluctuates narrowly, hovering at high levels, with market expectations of an increasing chance of a rate cut in the US in December, which is favorable for the Hong Kong property market. The confidence index continues to be higher than the average level (considered the boundary between good and weak property prices). If divided into 3 regions, property prices in all 3 regions have risen continuously for 2 weeks. The latest report of the "Midland Island Property Price Index" is 139.00 points, up 0.35% weekly; the latest report of the "Midland Kowloon Property Price Index" is 138.56 points, up 0.25% weekly; the latest report of the "Midland New Territories Property Price Index" is 122.54 points, up 0.74% weekly. Compared to four weeks ago, property prices in all 3 regions have also risen across the board, with increases of 3.28% in the Island region, 0.92% in the Kowloon region, and 0.96% in the New Territories region. As for the changes in property prices so far this year, property prices in all 3 regions have also risen, with increases of 2.27% in the Island region, 5.75% in the Kowloon region, and 3.69% in the New Territories region. In terms of discount ratios, among the 3 regions in Hong Kong, the New Territories region has the highest discount ratio. When divided into specific districts, the top three districts with the highest discount ratios are Tsuen Wan, Tin Shui Wai, and Tung Chung. When divided by unit area, the highest discount ratio is for Class A units with a practical area of about 430 square feet or less; followed by Class C units with a practical area between about 753 and about 1075 square feet; and then by Class B units with a practical area between about 431 and about 752 square feet.