Hong Kong property prices continue to rise, with the US Federal Reserve's property price index rising for 7 consecutive weeks, reaching a new 15-month high.

The upward trend in Hong Kong property prices continues, with the US-linked property price index rising for seven consecutive weeks, reaching a new high of 132.11 points, a weekly increase of 0.09%. The cumulative increase in property prices so far this year has further expanded to 3.11%, compared to a roughly 4.62% increase from the low point earlier in the year. Analyst Chan Chung-hin from US-linked property pointed out that market confidence in property prices has significantly strengthened. Despite new trade tensions between China and the US, property prices have not been greatly affected. The US Confidence Index, reflecting owners' listing attitudes (based on weekly price changes on US-link websites), reported a new high of 76.1 points. Although this represents a 1.6% weekly decrease, it has remained above 75 points for 12 consecutive weeks in a high-level narrow fluctuation pattern. With the recent preliminary agreement between the US and China, as well as market expectations of another interest rate cut by the end of the month, the Hong Kong property market is expected to receive positive support. The confidence index is likely to rebound and remain at a high level. Importantly, the confidence index has been higher than the average value for 47 consecutive weeks, indicating a strong upward trend in property prices. When divided into three districts, property prices in individual districts show differing trends. The US-linked Kowloon property price index reported 137.65 points, a weekly increase of 0.67%; the Hong Kong Island property price index reported 135.62 points, a weekly decrease of 0.35%; and the New Territories property price index reported 121.28 points, a weekly decrease of 0.26%. Compared to four weeks ago, property prices in all three districts have increased, with increases of 0.13%, 2.08%, and 1.57% in Hong Kong Island, Kowloon, and the New Territories, respectively. As for year-to-date property price changes, there are mixed developments in the three districts, with increases of 5.05% and 2.62% in Kowloon and the New Territories, respectively, and a decrease of 0.22% in Hong Kong Island. In terms of price reductions, the highest rate is in Kowloon among the three districts, with Tuen Mun, Ma Wan/Park Island, and Yau Yat Chuen/Lai Chi Kok being the top three areas with the highest reduction rates. Among the different unit sizes, the highest reduction rate is seen in E-type units with a practical area of approximately 1722 square feet or more; followed by B-type units ranging from approximately 431 to 752 square feet; and then C-type units with a practical area of approximately 753 to 1,075 square feet.