CRIC: China City Level index (CCL) rose by 0.63% weekly to reach 145.54 points, recording its highest level in over a year and a half.

Yang Mingyi, Senior Co-Chairman of the Research Department of Zhongyuan Real Estate, pointed out that the latest Central China Leading Index (CCL) was 145.54 points, up 0.63% weekly, reaching the second highest level in 88 weeks (over 1.5 years) since May 2024, reflecting the market conditions when the first price list of the second phase of SIERRASEA in Xisha was announced on December 30th last year. Since December, the CCL has shown a pattern of rising for two weeks and falling for one week, with a cumulative increase in property prices of 0.99% so far in 2026. After the Christmas holidays, large new developments were launched, sparking a hot market response with units being quickly sold out, along with high-quality second-hand units being swiftly snapped up. Buyers have started accepting price increases from sellers, leading to a continued upward trend in property prices. Recently, new project sales have been ideal, with banks actively offering mortgage discounts, creating a lively atmosphere in the property market. Second-hand transactions have increased, and a strong market in the upcoming Chinese New Year is possible. The CCL may break through the 147-point mark before the Chinese New Year (equivalent to the post-spicy high in 2024), with just a difference of 1.46 points or 1.00% currently. As interest rates fell in May 2025, property prices showed a clear turnaround and began to rise. Additionally, with two interest rate cuts by local banks last year, the CCL was 7.68% higher than the low point of 135.16 points in May last year after the interest rate cut. The CCL has also increased 7.90% from the low point of 134.89 points before the financial case in March 2025, 7.12% from the low point of 135.86 points before the first interest rate cut in September 2024, and decreased by 23.94% from the historical high of 191.34 points in August 2021. The impact on local second-hand property prices will only be reflected in the CCL announced in mid-February 2026. The Central China Large Estate Leading Index (CCLMass) was 146.53 points, up 0.62% weekly. The CCL (small and medium-sized units) was 145.46 points, up 0.55% weekly. Both the CCLMass and the CCL (small and medium-sized units) reached their second highest levels in 88 weeks (over 1.5 years) since May 2024. The CCL (large units) was 145.91 points, up 1.06% weekly, rising for two consecutive weeks by a total of 1.29%, reaching a new high in 83 weeks (over 1.5 years) since June 2024. Property prices rose for three districts and fell for one. The CCLMass for Hong Kong Island was 146.52 points, up 2.82% weekly, the largest increase in 5 weeks, rising for 4 consecutive weeks by a total of 5.11%, reaching a new high in 91 weeks (almost 2 years) since the end of April 2024. The CCLMass for Kowloon was 145.93 points, up 0.73% weekly, reaching the second highest level in 112 weeks (over 2 years) since the end of November 2023. The CCLMass for the East New Territories was 155.53 points, up 0.62% weekly, rebounding after a drop of over 3% last week. The CCLMass for the West New Territories was 132.27 points, down 1.77% weekly, the largest decrease in 7 weeks, ending a 2-week streak, and still the 7th highest in 82 weeks (over 1.5 years) since the end of June 2024.