China Real Estate: Hong Kong housing market is hot and stimulating, pushing up prices. CCL rises for the third consecutive week to 143.46 points.

Yang Mingyi, Senior Co-Director of Research Department of Midland Realty, pointed out that the latest Central Plains City Leading Index (CCL) is at 143.46 points, up 0.68% weekly, with CCL rising for 3 consecutive weeks, totaling 2.22%, breaking through the target of 143.02 points. Hong Kong property prices have successfully overcome the three previous lows in the past two years. The upward trend in property prices continues, with owners becoming more confident and narrowing the bargaining space, buyers need to adapt to the situation, and it is expected that CCL will stabilize at the 143 point level by the end of this year. Yang Mingyi stated that this is the first week of market conditions after the second interest rate cut on October 30th. With the heated atmosphere in the Hong Kong property market, the unsold units in the market have been gradually consumed, buyers are entering the market more quickly, and second-hand transactions are increasing, stimulating the rise in property prices. Since the Hong Kong dollar interest rate fell in May, property prices have bottomed out and risen back up. Compared to the low point of 135.16 points in May, CCL has risen by 6.14%, and property prices have temporarily accumulated a 4.23% increase in 2025. Compared to the low point of 134.89 points before the case in March 2025, the index has risen by 6.35%, compared to the low point of 135.86 points before the first interest rate cut in September 2024, the index has risen by 5.59%, and compared to the historical high point of 191.34 points in August 2021, the index has fallen by 25.02%. The Central Plains City Leading Index for large-scale housing estates, CCL Mass, is at 144.90 points, up 0.69% weekly, reaching a new 80-week high since May 2024. CCL (small to medium units) is at 143.64 points, up 0.88% weekly, reaching a new 76-week high since June 2024. Both CCL Mass and CCL (small to medium units) have risen for 3 consecutive weeks, accumulating 2.24% and 2.30% respectively. CCL (large units) is at 142.52 points, down 0.30% weekly, softening after a 2-week rise, but still the second highest level in the 49 weeks since December 2024. Property prices in the four districts have risen for 3 weeks and then fallen for 1 week. CCL Mass in the West New Territories is at 135.17 points, up 3.70% weekly, the largest increase since April 2007, rebounding after 2 weeks of decline, reaching a new 81-week high since May 2024. CCL Mass in the East New Territories is at 156.57 points, up 1.18% weekly, rising for 2 weeks, totaling 2.07%, reaching the fourth highest level in 80 weeks since May 2024. CCL Mass in Kowloon is at 143.39 points, up 0.53% weekly, rising for 3 weeks, totaling 3.49%, reaching a new 78-week high since late May 2024. CCL Mass in Hong Kong Island is at 139.84 points, down 2.28% weekly, ending a 2-week rise. As of 2025, the eight major property price indexes have risen temporarily, with CCL up 4.23%, CCL Mass up 4.90%, CCL (small to medium units) up 4.85%, CCL (large units) up 1.19%, Hong Kong Island up 0.92%, Kowloon up 7.16%, East New Territories up 5.52%, West New Territories up 5.31%.