Hong Kong Secondary Home Prices Edge Lower Again
On.cc · 2 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong’s secondary home market recorded another mild weekly decline, as the Centa-City Leading Index fell to 159.82, down 0.06% from a week earlier and down 0.45% over two weeks . Even so, the index is still near a three-year high range, having risen 10.9% this year and hovered around 160 points for eight straight weeks, indicating high-level consolidation rather than a decisive reversal .
Key Points
- Senior associate director of research at Centaline, Yeung Ming-yee, said the latest CCL stood at 159.82, the fifth highest level in about three years .
- CCL Mass and the small-to-medium unit index both fell about 0.2% week on week, while the large-unit index rose 0.66% .
- Among four regions, New Territories East gained 1.78% and reached a new high since early August 2023 after two weeks of increases .
- New Territories West fell 1% for a third straight week, while Hong Kong Island dropped 0.77% and Kowloon slipped 0.3%, both declining for two weeks .
- Centaline said buyers are more cautious about bidding up prices, owners are holding firm, and some have suspended listings amid market volatility .
Why It Matters
The latest figures suggest Hong Kong’s resale housing market is not collapsing, but is struggling to break higher as sentiment turns more cautious and deal flow slows . Centaline expects prices to keep moving sideways at elevated levels in the near term, with the CCL still 3.24% below its 165-point target, which may only be reached later in the third quarter .