JLL: If the Hang Seng Index can maintain its current level or continue to rise, the future property prices in Hong Kong will remain stable or even rebound.

According to the data from the Hong Kong Rating and Valuation Department, the private residential property price index in Hong Kong in January was 287.6, a decrease of 0.45% compared to the previous month. It has been declining for two consecutive months and has reached a new low since August 2016, with a year-on-year decrease of 6.4%. CBRE pointed out that if the Hang Seng Index can maintain its current level or continue to rise, it is expected that the property prices in Hong Kong will develop steadily, or even rebound. Kelvin Ho, Executive Director of Valuation and Consulting Services at CBRE Hong Kong, said that as January was still in the off-peak season due to the Lunar New Year, property prices did not fluctuate much. The private residential property price index in January decreased slightly by 0.4% month-on-month. With developers launching new projects and actively selling remaining units, this will put some pressure on property prices. However, Kelvin Ho also pointed out that the Chinese government's measures to boost the economy have boosted the stock market, and the sharp rise in the Hang Seng Index in February has brought optimism to the property market. The Hang Seng Index is usually closely related to property prices, with property prices often lagging behind the Hang Seng Index by about 2-3 months. If the Hang Seng Index can maintain its current level or continue to rise, it is expected that property prices will develop steadily, or even rebound in the future.