CBRE says home prices remain in consolidation phase
AM730 · 2 SOURCESabout 3 hours ago5 MIN
Summary
Hong Kong’s private residential price index rose to 320.8 in September 2026, up 0.19% from a month earlier and marking a second straight monthly increase. CBRE Hong Kong Executive Director of Valuation and Advisory Services Kwok Wai-yan (郭偉恩) said the roughly 0.2% gain was modest and showed the housing market was still in a consolidation phase. He said the US Federal Reserve’s first rate hike in three years in September, together with a recent stock market pullback in Hong Kong and tighter Chinese controls on outbound investment, could weigh on sentiment and curb investment demand. With overall home prices already up about 7% in the first nine months of 2026, he said room for further short-term gains appeared limited and prices were likely to stay stable in the fourth quarter.
Key Points
- The Rating and Valuation Department released the latest private residential price index on 28 October, showing September 2026 at 320.8 points, up 0.19% month on month
- The index has now risen for two consecutive months, while cumulative growth in the first nine months of 2026 reached 7.08%
- Kwok Wai-yan said the September increase of only about 0.2% indicated the market remained in consolidation rather than entering a stronger upswing.
- He cited the Fed’s September rate hike, Hong Kong stock market adjustments, and tighter mainland outbound investment controls as factors dampening investment sentiment.
- Third-quarter primary transactions totaled 3,240, down 53.7% from the second quarter, while fourth-quarter primary sales are projected at 4,000 to 5,000.
Why It Matters
For Hong Kong buyers, sellers and developers, the message is that prices may hold steady rather than rise sharply in the near term, making transaction strategy more important than chasing momentum. The expected slowdown in primary sales also suggests developers may keep balancing pricing against sales volume as they respond to financing conditions and market sentiment.