China Real Estate: There may be a chance for Hong Kong property prices to break out of the narrow range after the Spring Festival.

The latest report from the Central Plains Leading Index CCL is 138.64 points, down 0.44% weekly. It ended the two-week consecutive increase and has been hovering around 138 points for 11 weeks. Yang Mingyi, Senior Co-Director of Midland Realty, stated that the economic environment is uncertain, secondary property transactions in Hong Kong are lackluster, with buyers mainly looking for discounted properties and developers offering new properties at low prices to attract customers. It is expected that before the Chinese New Year, the CCL will continue to fluctuate between 136 and 140 points. On Monday (January 20), U.S. President Trump will officially take office. If there are no major negative factors, it is expected that market doubts will be removed, and there may be a chance for property prices to break free from the narrow range after the Spring Festival. The Central Plains Large Property Leading Index CCL Mass reported 139.01 points, down 0.65% weekly. CCL (small and medium-sized units) reported 137.88 points, down 0.52% weekly. CCL (large units) reported 142.45 points, a slight decrease of 0.04% weekly. CCL Mass and CCL (small and medium-sized units) both ended two weeks of consecutive increase, reaching levels last seen in mid-September 2016 and late September 2016, respectively. CCL (large units) still remains at the level seen in mid-January 2017. Property prices in the four districts show fluctuations. The Kowloon CCL_Mass reported 133.72 points, down 1.16% weekly, after two weeks of consecutive increase. New Territories West CCL_Mass reported 127.22 points, down 0.76% weekly, a total decrease of 1.22% over three weeks of consecutive decline. Hong Kong Island CCL_Mass reported 142.41 points, down 0.48% weekly, after a sharp increase last week, ending two weeks of consecutive increase. New Territories East CCL_Mass reported 149.92 points, up 0.21% weekly, a total increase of 1.04% over two weeks of consecutive increase. The indexes in the Hong Kong and Kowloon districts have been hovering around the levels seen in late August 2016, while those in New Territories East and West are at the levels seen in mid-November 2016 and late October 2016, respectively.