In May, the Pearl River Delta Index rose by 0.33% month-on-month, reaching a ten-month high.

In mid-May, the Central Bay Area Index was reported at 92.34 points, an increase of 0.33% from the previous month, marking a consecutive increase for four months and a cumulative increase of 2.3%, reaching a ten-month high. Among the 12 indices in the Central Bay Area in May, half recorded increases and half recorded decreases, with increases ranging from 0.2% to 4.98% and six indices recording decreases ranging from 0.2% to 4.27%. The four major central cities also saw a mix of increases and decreases, with the indices in Hong Kong and Shenzhen rising by 0.67% and 0.2% respectively. These two indices have been rising for five and four consecutive months respectively. The index in Macau has reached a new low for six consecutive months, dropping by 1.78% in May, while the index in Guangzhou saw a slight decrease of 0.2%. Chen Yongjie, Vice Chairman and President of the Residential Division of Central Properties Asia Pacific, stated that the cities in the Bay Area have benefited from the implementation of market rescue measures, resulting in overall better market conditions in May compared to April. For example, both Guangzhou and Shenzhen saw an increase in transaction volume as policies were implemented. In May, Guangzhou saw a 23% increase in first-hand transactions, totaling 6,785 transactions, due to the stabilizing policies. In Shenzhen, thanks to the new policies, a total of 10,079 transactions for first and second-hand residential properties were recorded in May, an increase of 11.4% from April, marking a milestone in residential transactions in Shenzhen after 14 months. The Shenzhen index has been rising for four consecutive months with a cumulative increase of 2.3%, in line with the Central Bay Area index. The Hong Kong index stands out among the Bay Area indices, as it has been rising for the past five consecutive months with a cumulative increase of 5% for the first five months of the year. Chen Yongjie pointed out that during times of uncertainty in the external economic environment due to geopolitical tensions, Hong Kong properties have acted as a safe haven. Combined with the favorable factors following the US interest rate cuts, Hong Kong properties continue to strengthen. With the favorable factors remaining unchanged and the potential end to the US-Iran conflict, it is expected that the Hong Kong index will continue to rise, though the pace may slow down as the market adjusts to new prices, leading to another round of price increase.