The US building price index fell slightly by 0.13% on a weekly basis, hitting a new low in over 8 and a half years.

The latest "Colliers Confidence Index" reported a score of 60.2, a weekly decrease of 5.2% and a consecutive decrease for 4 weeks. The budget announcement proposes a significant reduction in stamp duty for properties valued at 4 million Hong Kong dollars or less to 100 Hong Kong dollars, which is favorable for the Hong Kong property market. However, with several new developments seizing the opportunity to sell and attracting attention, some eager sellers have reduced prices, leading to an increase in discounted listings and a decrease in confidence index. Colliers property chief analyst Liu Jiahui pointed out that based on the discount listing ratio on the Colliers website, the New Territories has the highest discount listing ratio among the three districts. When divided into specific areas, the top three areas with the highest discount listing ratios are Tin Shui Wai, Tsuen Wan, and Olympic Station. In terms of unit size, the units with a practical area of about 430 square feet or less have the highest discount listing ratio, followed by units with a practical area ranging from about 431 to about 752 square feet, and then units with a practical area ranging from about 753 to about 1075 square feet. As for property prices, the latest "Colliers Property Price Index" reported a score of 126.76, a slight weekly decrease of 0.13%, continuing to reach a new low of over 8 and a half years. Compared to four weeks ago, the property price index has decreased by 0.99%, and by about 1.07% year-to-date. The impact of the budget announcement on property prices is still to be seen. When divided into the three districts, property prices showed individual developments on a weekly basis. The latest "Colliers Hong Kong Island Property Price Index" reported a score of 135.04, an increase of 0.73% weekly. The latest "Colliers Kowloon Property Price Index" reported a score of 130.54, an increase of 0.48% weekly. In contrast, the latest "Colliers New Territories Property Price Index" reported a score of 116.07, a decrease of 0.93% weekly. Compared to four weeks ago, property prices in all three districts have decreased, with a 1.19% decrease in Hong Kong Island, a 1.01% decrease in Kowloon, and a 0.9% decrease in the New Territories. Year-to-date, property prices in all three districts have also declined, with a 0.65% decrease in Hong Kong Island, a 0.37% decrease in Kowloon, and a 1.79% decrease in the New Territories.