"" rose by 0.59% from its low point this year, narrowing the accumulated decline to 7% for the year.

On December 27th, the Hong Kong Rating and Valuation Department released the Private Residential Price Index for November, showing a slight month-on-month increase of about 0.07%. This is the second consecutive month of increase, with a cumulative increase of approximately 0.94% so far this year. The cumulative decrease for the first 11 months of the year has narrowed to around 6.55%. Liu Jiahui, Chief Analyst at Midland Realty, pointed out that the November building price index in Hong Kong reflects the positive factors in the property market such as the interest rate cut in September and the measures announced in the October policy address. The index has been on the rise for two months. According to the "Midland Property Price Index", the latest index (as of December 23rd) is 127.95 points, a slight increase of about 0.59% from the low point of the year, with a cumulative decrease of about 7% so far this year. Over the past year, the housing policies in Hong Kong have been relaxed, allowing for the purchase of luxury properties by investment immigrants. In addition, the central government's economic stimulus measures and the interest rate cut have all been positive for the property market, helping to stabilize prices in the past two months. It is believed that these factors will continue to support property prices in Hong Kong. However, due to the holiday season, transactions have slowed down, and the short-term trend of property prices in Hong Kong is expected to remain volatile. In terms of rentals, the private residential rental index in Hong Kong recorded a month-on-month decrease of about 0.36% in November, marking the second consecutive month of decline. However, rentals have increased by about 3.82% in the first 11 months of the year, indicating that the trend of rising rents has not changed. According to the Midland "Rental Trend Chart", the average rent for private residential properties calculated by usable area was around 37.78 HKD per square foot in November, also marking the second consecutive month of decline. This is likely due to the rental market entering the off-peak season, and adjustments are expected in the short term. However, the overall trend of rising rents remains similar to that reported by the Rating and Valuation Department. It is anticipated that rents will stabilize after the Lunar New Year.