Midland Realty: CCL rises by 0.29% per week, reaching a one and a half year high, expected to continue the short-term upward trend in Hong Kong property prices.

Yang Mingyi, senior co-director of the Research Department of Central Plains Real Estate, pointed out that the latest Central Plains Urban Leading Index CCL was 143.45 points, up 0.29% on a weekly basis, hitting a second high in 78 weeks (about a year and a half) since early June 2024. This was due to the release of the first price list by Changsha Wan Xing hui on November 18th and 20th, the second round of price list sales for Tien. Tian Phase 2 in Kowloon Bay on the 19th, and the first round of sales for Pak King Fung in Yau Tong on the 21st, reflecting the market conditions for that week. As property prices rise, owners are less willing to negotiate prices, resulting in a tug-of-war between buyers and sellers. The CCL has been hovering around 143 points for 3 consecutive weeks. With several new developments launched recently and the approaching Christmas holiday season, secondary market transactions have slowed down, and it is expected that the CCL will continue to stabilize around 143 points by the end of this year. Although local banks did not follow the US in cutting interest rates, the property market sentiment is optimistic and improving, leading to a continued upward trend in property prices in the short term. It is believed that the CCL may challenge 147 points in the first quarter of 2026, currently differing by 3.55 points or 2.47%. Interest rates fell in May 2025, causing property prices to rebound, with the CCL rising 6.13% from the low of 135.16 points below the peak rate in May. The property prices have temporarily risen by 4.22% in 2025. Compared to the low of 134.89 points before the financial crisis in March 2025, the Index has risen by 6.35%. It is 5.59% higher than the low point of 135.86 points before the first interest rate reduction in September 2024, and 25.03% lower than the historical high of 191.34 points in August 2021. On December 9th, Changsha Wan Xing hui sold 53 units in the first round, on the 11th the Fed reduced interest rates by 0.25%, Hong Kong's major banks maintained their most favorable rates unchanged, on the 12th, Yau Ma Tei Erl pushed out a price list selling all 63 units, on the 13th Pak King Fung in Yau Tong sold 150 units in the second round, and on the 14th Tuen Mun DOUBLE COAST III sold 53 units in the first round. The impact on the local secondary property market will be reflected in the CCL to be announced in early January 2026. The Central Plains Urban Leading Index CCL Mass was 144.31 points, up 0.19% weekly. CCL (small to medium-sized units) was 143.10 points, up 0.22% weekly. Both CCL Mass and CCL (small to medium-sized units) hit a 78-week high since early June 2024. CCL (large units) was 145.24 points, up 0.64% weekly, a total of 1.91% increase over 2 weeks, reaching a new high in 71 weeks since late July 2024. Property prices in the four regions saw three increases and one decrease. The CCL Mass for Hong Kong Island was 140.68 points, up 2.17% weekly, ending a 2-week decline and reaching the 10th highest point in 71 weeks since late July 2024. The CCL Mass for the Eastern New Territories was 158.38 points, up 0.83% weekly, a total of 3.25% increase over 4 weeks, reaching a new high in 84 weeks since late April 2024. The CCL Mass for the Western New Territories was 131.99 points, up 0.62% weekly, reaching a high in 76 weeks since late June 2024. The CCL Mass for Kowloon was 142.54 points, down 1.70% weekly, falling after 4 consecutive weeks of increase, but still the 4th highest point in 78 weeks since early June 2024. As of 2025, the Ba?ei Property Index shows that CCL has temporarily increased by 4.22%, CCL Mass by 4.47%, CCL (small to medium-sized units) by 4.45%, CCL (large units) by 3.12%, Hong Kong Island by 1.52%, Kowloon by 6.52%, the Eastern New Territories by 6.74%, and the Western New Territories by 2.83%.