Merrill Lynch: Hong Kong property market continues to bottom out and rebound, "Merrill Lynch Property Price Index" has risen by 7.59% from last year's low.

Analyst Samson Sam from Colliers International pointed out that Hong Kong property prices are expected to bottom out and rebound by 2025, successfully reversing a three-year downtrend. In recent weeks, property prices have shown a sustained upward trend, with the "Colliers Property Price Index" rising for 8 consecutive weeks, accumulating a rebound of about 7.59% from its low point last year. When divided into 3 districts, property prices in all 3 districts have risen from their lows last year. The best performer was the Kowloon district, with a property price index rising by about 8.83% from its low point last year; while the property price index in the New Territories and Hong Kong Island districts rose by about 7.49% and 7.32% respectively, showing similar trends. When looking at the top 10 housing estates, the average price per square foot has increased across the board from their lows last year, with increases ranging from about 5.4% to 14.1%. In fact, 6 housing estates have seen increases of over 10%. Samson Sam added that despite the rebound in the "Colliers Property Price Index" from its lows last year, it is still more than 23% lower than its record high. In fact, some of the top 10 housing estates still have average prices per square foot below the ten thousand Hong Kong dollar mark, such as Tivoli Garden and The Beverly Hills, recording around 9861 Hong Kong dollars and 8454 Hong Kong dollars respectively.