Gelonghui May 24| Hong Kong property prices fall for four consecutive weeksdragon'sluckmegaways, reflecting the trend of the second-hand residential property market in major large-scale housing estatesdragon'sluckmegawaysThe Central Plains City Leading Index (CCL) was last reported at 144 points, down 1.1 per weekdragon'sluckmegaways.43%, a nine-week low. It was the market situation in the week when the United States held interest rates unchanged for six consecutive meetings on May 2 and The YOHO Hub II in Yuen Long announced its first price list.
Yang Mingyi, senior co-director of Centaline Real Estate's research department, pointed out that CCL fell for four consecutive weeks for a total of 1dragon'sluckmegaways.97%, the decline widened this week, approaching the previous low of 143.02 points. The effect of spicy food withdrawal gradually disappeared. In the 10 weeks after spicy food withdrawal, CCL rose five times and fell five times, increasing only 0.69%. This week, all eight major indexes fell for the first time this year. The property market shows signs of downward adjustment, and the situation of repeated competition over property prices may end. New markets continue to promote at low prices to grab customers, and the pressure on second-hand markets remains unchanged, and the index still does not reflect the impact of banks 'tightening of mortgages. It is believed that CCL will further fall below the 143 point level. It is expected that it will test 140 points next June. Property prices are expected to fall by about 5% in the first half of the year.
She said that CCL returned to its level in mid-November 2016, at a low of more than seven and a half years. This week's index fell 24.74% from the historical high of 191.34 points in August 2021, 14.49% from the high of 168.40 points in April 2023, and temporarily fell 2.18% in 2024. On May 25, the second round of PARK SEASONS, Phase 12B of Cannes, Tseung Kwan O, sold 154 units at the sunrise. The impact on local second-hand property prices will begin to be reflected in the CCL announced in mid-June.
