The UMCCI Confidence Index rose by 1.2% weekly, with low interest rates continuing to provide positive support for the Hong Kong property market.

The latest Confidence Index of the American Alliance is 73.4 points, an increase of 1.2% weekly. With interest rates remaining low and the recently announced potential supply data falling for the fifth consecutive quarter from a high level, it brings positive support to the property market. The number of discounted properties has decreased, leading to an increase in the confidence index. As for the Federal Reserve maintaining interest rates after the meeting, the impact will be reflected in the confidence index to be announced later. Liu Jiahui, Chief Analyst of the American Alliance Property, pointed out that according to the discounted property ratio reflected on the American Alliance property website, among the three areas of Hong Kong, the New Territories has the highest ratio of discounted properties; if divided into specific districts, the three areas with the highest ratio of discounted properties are Tsuen Wan, Kai Tak, and Olympic Station. In terms of unit area, the highest ratio of discounted properties is in Class A units with a practical area of approximately 430 square feet or less; followed by Class D units with a practical area ranging from approximately 1076 to 1721 square feet; and then Class B units with a practical area ranging from approximately 431 to 752 square feet. In terms of property prices, the latest American Alliance Property Price Index is 128.78 points, an increase of 0.46% weekly, a two-week consecutive increase; the index has increased by 0.92% compared to four weeks ago; property prices have increased by 0.51% so far this year. When divided into three districts, property prices in the three districts show individual developments weekly. The latest American Alliance Kowloon Property Price Index is 133.15 points, an increase of 0.45% weekly; the latest American Alliance New Territories Property Price Index is 118.48 points, an increase of 0.7% weekly; on the other hand, the latest American Alliance Hong Kong Island Property Price Index is 133.96 points, a decrease of 0.27% weekly. Compared with four weeks ago, property prices in the three districts also show individual developments, with Kowloon and New Territories increasing by 0.7% and 1.42% respectively, while Hong Kong Island decreased slightly by 0.07%; as for the changes in property prices so far this year, Kowloon and New Territories have recorded increases of 1.62% and 0.25% respectively, while Hong Kong Island has decreased by 1.44%.