CRIC: Boosted by the rise of Hong Kong index, the CRIC Greater Bay Area index in July ended its six consecutive declines with a score of 92.66 points.

In July 2025, the Central Bay Area index was reported at 92.66 points, ending a 6 consecutive decline, with a slight increase of 0.05% compared to the previous month. However, the index is still below 93 points, which is the second lowest in the past 7 and a half years. The indices of the four major central cities, Guangzhou, Shenzhen, and Macau continued to decline, but with the index in Hong Kong rising by over 1%, the Central Bay Area index recorded an increase in July. Overall, out of the 12 indices in the Central Bay Area in July, more cities recorded a decline than an increase, with 8 reporting a decline ranging from 0.79% to 1.85%, and 4 reporting an increase ranging from 0.05% to 8.65%. Chen Yongjie, Vice President and Residential Department Head of Central China Real Estate Asia-Pacific, stated that in July, the cities in the Bay Area lacked major positive news, combined with the impact of the summer vacation season, it was traditionally a slow season, with a decrease in both property viewings and transactions. In the four major central cities, Guangzhou and Shenzhen both saw double-digit percentage declines in transaction volume compared to the previous month. In July, the second-hand property transactions in Guangzhou dropped to less than 9000, with 8962 transactions, a decrease of 9% compared to the previous month, while first-hand transactions dropped by 33%. The Guangzhou index in July was reported at 87.99, a decline of 1.2% compared to the previous month, marking 8 consecutive months of decline. The Shenzhen index has also been declining for 5 consecutive months, with the latest monthly index at 94.45, a decrease of 1.13% compared to the previous month. Second-hand property transactions in Shenzhen increased by 3% in July, but there was a lack of focus on new properties, resulting in a 24% decrease in first-hand transactions and a slight increase of 3% in second-hand transactions. On the other hand, in Hong Kong, the July index recorded an increase of over 1% whether in RMB or HKD terms. Chen Yongjie pointed out that in July, Hong Kong was driven by multiple positive news such as the high opening of Hong Kong stocks, low interest rates hovering at lows, record high rents, and easing trade tensions, which led to a warmer market atmosphere and an increase in both first and second-hand transactions. August is still the peak rental season, with rents expected to continue to rise. It is anticipated that there will be an increase in buying properties for rental purposes, and property prices are expected to bottom out and rise again.