CRIC: The property market in Hong Kong is showing signs of improvement as CCL stabilizes after 2 weeks of declines.

Yang Ming-yee, Senior Co-Chair of the Research Department of Zhongyuan Real Estate, pointed out that the latest Zhongyuan City Leading Index (CCL) was at 137.46 points, up 0.32% weekly. The Hong Kong stock market surged, the atmosphere in the Hong Kong property market improved, and the second-hand housing transactions slightly increased. The CCL stabilized after two weeks of consecutive declines, fluctuating around the 137-point level for three weeks. Developers have recently launched multiple new projects, putting pressure on the second-hand market, while the financial cases benefited the trading of small-priced properties. Sales of new projects are also ideal, and the first quarter CCL is expected to hold steady at its low before interest rate cuts, hovering between 136 and 139 points. If the volume of second-hand transactions continues to increase, the index is expected to rise in the second quarter. The CCL is still at its lowest level in nearly 8 and a half years, hovering around the mid-level of September 2016. Property prices have temporarily fallen by 0.13% in 2025. Compared to the low of 135.86 points before the first rate cut in September 2024, the index rose by 1.18%, but it fell by 28.16% compared to the historical high of 191.34 points in August 2021, and by 3.89% compared to the low of 143.02 points before the removal of cooling measures in March 2024. On March 5th, YOHO WEST PARKSIDE in Tuen Mun sold 119 units in the first round, while Coasto in Yau Tong sold 25 units in the second round. On March 6th, Upper Riverwalk in Tai Po announced the sale of the first price list for 81 units, Lang Tin Peak in Yuen Long sold 123 units in the third round. The Hang Seng Index closed above 24000 points, reaching a new high in over 3 years. On March 8th, the first round of the South Kowloon City sold 55 units, and the impact on local second-hand housing prices will not be reflected until the end of March 2025 in the CCL. The Zhongyuan City Large Estate Leading Index CCL Mass reported 137.83 points, up 0.28% weekly. The CCL (small and medium-sized units) reported 136.97 points, up 0.42% weekly. CCL Mass and CCL (small and medium-sized units) both stabilized after two weeks of consecutive declines. The CCL (large units) reported 139.91 points, down 0.13% weekly, decreasing for 7 consecutive weeks by a total of 1.82%. CCL Mass, CCL (small and medium-sized units), and CCL (large units) are at levels from the end of August to the end of September 2016. Property prices in the four districts rose and fell. The CCL_Mass on Hong Kong Island reported 140.52 points, up 1.80% weekly, rebounding after two weeks of decline. The CCL_Mass in the East New Territories reported 150.35 points, up 0.69% weekly, rising for 2 consecutive weeks by a total of 0.87%. The CCL_Mass in the West New Territories reported 124.95 points, down 0.22% weekly. The CCL_Mass in Kowloon reported 133.13 points, down 0.70% weekly, declining for 3 consecutive weeks by a total of 1.95%. The indices for Hong Kong Island, Kowloon, West New Territories, and East New Territories respectively have been hovering around the levels of early August, late August, early October, and mid-November 2016.