Zhongyuan Real Estate: Zhongyuan Valuation Index (CVI) fell to 36.89 points, hitting a nearly 18-week low.

Yang Mingyi, Senior Co-Chairman of the Research Department of Cushman & Wakefield, pointed out that the latest CVI report for this week is 36.89 points, a decrease of 4.37 points from last week's 41.26 points. The index has declined for three consecutive weeks, totaling 13.46 points, falling below the lower limit of the 40-point demarcation range from the 50-point level, reaching a new low in nearly 18 weeks since the government's policy address in October last year. If CVI is unable to return to above 40 points in the short term, it indicates that there will be downward pressure on property prices in Hong Kong. The United States has slowed down its interest rate cuts, and recently many developers have been offering new properties at low prices, putting pressure on the secondary market and prompting banks to adopt a slightly more conservative attitude towards mortgage valuations. Yesterday, the budget announced the relaxation of the HK$100 stamp duty threshold, which has a positive stimulating effect on transactions of low-priced properties. Only if CVI can rebound to the 50-point level and continue to stabilize, will there be hope for a bottoming out of property prices in Hong Kong.