Zhongyuan: CCL rose 144.11 points weekly, up 0.38% for the whole year of 2025 with a cumulative increase of 4.7%.

The latest Central Plains City Leading Index (CCL) is 144.11 points, up 0.38% weekly, reaching the second highest level in 81 weeks (over 1.5 years) since early June 2024, when the US Federal Reserve lowered interest rates by 0.25% on December 11. The major banks in Hong Kong maintained the most favorable interest rates for the week. Yang Mingyi, senior joint director of research at Central Plains Real Estate, pointed out that in a low-interest environment, the atmosphere in the Hong Kong property market is optimistic and improving. With good sales of new developments, the mentality of owners has become stronger, leading to more situations where sellers hold firm on their asking price or increase it, forcing buyers to pay more, thus helping to drive up property prices further. The target for the first quarter of 2026 is 147 points, and CCL will reach this with a further increase of 2.89 points or 2.01%. Interest rates fell in May 2025, causing property prices to bottom out and rise. The CCL rose by 6.62% from the low point of 135.16 points seen in the week when interest rates were lowered in May 2025, eventually resulting in a 4.7% increase in property prices for the year. This reversed the downward trend seen in the past 3 years: a 6.5% decrease in 2024, a 6.37% decrease in 2023, and a 15.56% decrease in 2022. Additionally, compared to the low point before the financial case in March 2025 of 134.89 points, the latest CCL rose by 6.84%. Compared to the low point before the first interest rate cut in September 2024 of 135.86 points, there was a 6.07% increase, and compared to the historical high of 191.34 points in August 2021, there was a decrease of 24.68%. On December 30, the Sierra Sea Phase 2A development in West Saqsa released its first batch of 148 units. On January 2, the residential plot on Kau Tsuen Road, Jordan Valley in Kowloon was closed for bidding. The Hang Seng Index broke through the 26000 point mark, with the impact on the local second-hand property market only beginning to be reflected in the CCL to be announced in late January 2026. The Central Plains City Large-Scale Housing Leading Index (CCL Mass) is 145.18 points, up 0.26% weekly. The CCL (medium and small units) is 144.12 points, up 0.4% weekly. Both the CCL Mass and CCL (medium and small units) reached their 85th week high after mid-May 2024. The CCL (large units) is 144.1 points, up 0.28% weekly, ranking as the 4th highest in 73 weeks after early August 2024. Property prices in the four districts showed an increase in Kowloon and a decrease in the New Territories. The CCL Mass in Kowloon is 144.73 points, up 0.76% weekly, reaching the second highest level in 108 weeks (over 2 years) since early December 2023. The CCL Mass in Hong Kong Island is 140.16 points, up 0.55% weekly. In the eastern New Territories, the CCL Mass is 158.62 points, down 0.36% weekly, ending a 6-week consecutive increase, but still ranking as the 87th highest in 79 weeks after late April 2024. In the western New Territories, the CCL Mass is 132.73 points, down 0.28% weekly, a total decrease of 0.61% in 2 weeks, still ranking as the 4th highest in 79 weeks after late June 2024. Compared to the end of 2024, the eight major property price indices in 2025 all showed an increase: CCL increased by 4.7%, CCL Mass by 5.1%, CCL (medium and small units) by 5.2%, CCL (large units) by 2.31%, Hong Kong Island by 1.15%, Kowloon by 8.16%, eastern New Territories by 6.9%, and western New Territories by 3.4%.