MIDLAND HOLDING's property price index fell by 0.22% month-on-month, with a cumulative decline of 7% so far this year

The Midland Property Price Index latest reported at 127.93 points, a week-on-week decrease of 0.22%; compared to four weeks ago, the price index still recorded a 0.26% increase; however, property prices have dropped 7% year-to-date. When divided into three regions, property prices in the three regions developed differently week-on-week. The Midland Kowloon Property Price Index latest reported at 132.15 points, a week-on-week decrease of 0.29%; but compared to four weeks ago, it still increased by 1.19%, and has dropped 5.3% year-to-date; in the New Territories, the property price index also fell week-on-week like Kowloon, with the Midland New Territories Property Price Index latest reported at 117.36 points, a week-on-week decrease of 0.24%; down 0.79% compared to four weeks ago, and has dropped 7.58% year-to-date. In the Hong Kong Island region, the latest property prices saw a slight increase week-on-week, with the Midland Hong Kong Island Property Price Index latest reported at 134.55 points, a week-on-week increase of 0.04%; compared to four weeks ago, it recorded a 1.13% increase; and the area has cumulatively dropped 9.33% year-to-date. The Midland Confidence Index latest reported at 59.5 points, a week-on-week decrease of 2.3%. Midland Property Chief Analyst Liu Jia-hui pointed out that market concerns about the U.S. slowing down interest rate cuts, combined with the recent weak performance of Hong Kong stocks, have led some eager sellers to reduce prices, resulting in a drop in the confidence index