Hong Kong Property Prices Show Mixed Trends Amid Market Volatility

The latest Centaline City Leading Index (CCL), which reflects the trend of Hong Kong's secondary property prices, recorded a slight decline of 0.11% to 150.88. According to RTHK, Centaline Property noted that the escalation of tensions in the Middle East has led to a drop in Hong Kong stocks and increased financial market volatility. Despite this, the CCL remains at its second-highest level in over two years, with a cumulative increase of 4.7% since the beginning of the year. The price indices for large housing estates and small to medium-sized units both fell by approximately 0.2% week-on-week, ending a two-week upward trend. In contrast, the index for large units rose by 0.2%, marking a three-week consecutive increase. Property prices across different regions showed varied developments. In the New Territories West and Kowloon, prices decreased by 0.5% and 1% respectively, while the New Territories East and Hong Kong Island saw increases of 0.2% and 0.9% respectively. Centaline Property indicated that the recent fall of the Hang Seng Index below the 25,000-point mark, the one-month Hong Kong Interbank Offered Rate (HIBOR) dropping below 2%, and the introduction of HIBOR-linked mortgage plans by small and medium-sized banks with a rate of H+0.6% are expected to impact secondary property prices starting in April.