Secondary Property Price Index Falls 0.59% as Wait-and-See Sentiment Prevails
On.cc · 1 SOURCES1 day ago7 MIN
Summary
The Centa-City Leading Index (CCL) reported by Centaline Property Research retreated to 161.17 points this week, representing a 0.59 percent decline from the previous week . This reading corresponds to market conditions during the third round of sales at The Carrara (叡璟I) in Cheung Sha Wan on September 5, 2026, when all 101 units were sold out . Primary new projects have absorbed a significant portion of buying demand, suppressing secondary property prices and keeping the index within a narrow 161-to-162-point band for seven consecutive weeks . The current CCL remains the sixth highest reading in 159 weeks (over three years) since early September 2023 . Market participants are navigating a complex landscape of conflicting signals, including US interest rate increases, unresolved Middle East tensions, and a declining Hang Kong stock market, balanced against positive developments such as banks launching fixed-rate mortgage schemes and improving China-US relations following the leaders' summit .
Key Points
- The Centa-City Leading Index (CCL) stands at 161.17 points, down 0.59 percent week-over-week, remaining in the 161-162 point range for seven consecutive weeks
- Primary new projects including The Carrara Phase I (叡璟I) in Cheung Sha Wan and Phase II (叡璟II) in Southwest Kowloon continue to divert buying demand from the secondary market
- Hang Seng Bank launched a three-year fixed-rate mortgage plan at 2.93 percent on September 22, while Standard Chartered increased cash back offers to 1.5 percent for large properties
- The index target of 165 points has been delayed to the fourth quarter, currently short by 3.83 points or 2.36 percent
- Hong Kong Island recorded the strongest year-to-date gains at 17.80 percent, while New Territories East declined 1.67 percent this week to a 16-week low
Why It Matters
For Hong Kong property owners and prospective buyers, the extended consolidation phase suggests that the market lacks clear directional momentum despite some supportive factors like mortgage incentives and trade truce extensions . The 19.48 percent recovery from the March 2025 pre-budget low of 134.89 points demonstrates underlying resilience, yet the 15.76 percent gap from the August 2021 peak of 191.34 points underscores that full market recovery remains distant . With the fourth-quarter outlook uncertain and multiple external risks persisting, buyers may continue to adopt a cautious stance, potentially prolonging the current stalemate between buyers and sellers in the secondary property market .
For Hong Kong property owners and prospective buyers, the extended consolidation phase suggests that the market lacks clear directional momentum despite some supportive factors like mortgage incentives and trade truce extensions . The 19.48 percent recovery from the March 2025 pre-budget low of 134.89 points demonstrates underlying resilience, yet the 15.76 percent gap from the August 2021 peak of 191.34 points underscores that full market recovery remains distant . With the fourth-quarter outlook uncertain and multiple external risks persisting, buyers may continue to adopt a cautious stance, potentially prolonging the current stalemate between buyers and sellers in the secondary property market .