China Central Properties: CCL slightly increased by 0.03% weekly and stabilized at the 153-point level for 3 consecutive weeks.

Yang Mingyi, senior joint director of the research department of China Real Estate, pointed out that the latest Central Plains City Leading Index (CCL) is 153.72 points, up 0.03% this week, reaching a new high in 127 weeks (approximately 2 and a half years) since November 2023, at the beginning of the market in the week starting on April 3. Following the second maintenance of interest rates by the Federal Reserve this year, the CCL has been stable for the past two weeks, with prices staying around 153 points. Many new properties are selling well and taking away market focus, combined with strong attitudes from property owners, reducing bargaining space and even leading to counter offers and closures. With limited property sources, buyers are becoming more cautious, affecting the slight slowdown in the rising trend of second-hand property prices. However, the short-term trend of Hong Kong property prices continues to be positive, and the index currently stands 2.28 points or 1.48% away from the second quarter target of 156 points. Since the easing of interest rates in May 2025, Hong Kong property prices have reversed and risen, further stimulated by two interest rate cuts by local banks last year, causing the CCL to increase by 13.73% from the low of 135.16 points set immediately after the rate hike in May 2025. Compared to the low of 134.89 points before the financial crisis in March 2025, the CCL has increased by 13.96%, by 13.15% compared to the low of 135.86 points before the first interest rate cut in September 2024, and decreased by 19.66% compared to the historical high of 191.34 points in August 2021. The Central Plains City Leading Index (CCL) Mass for large-scale housing estates is at 155.45 points, up 0.45% this week. The CCL for medium and small units is at 153.87 points, up 0.25% this week, a total increase of 1.96% over 4 weeks. Both CCL Mass and CCL for medium and small units reached a new high of 132 weeks (over 2 and a half years) since early October 2023. The CCL for large units is at 152.95 points, down 1.09% this week, with a total decrease of 1.39% over 2 weeks, still ranking as the 3rd highest since the end of January 2024, for 116 weeks (over 2 years). Three out of four areas experienced increases in property prices. In the East New Territories, the CCL Mass is at 169.03 points, increasing by 1.78% this week after a nearly 2% drop last week, reaching the second highest level in 127 weeks (approximately 2 and a half years) since mid-November 2023. On Hong Kong Island, the CCL Mass is at 155.56 points, up 0.42% this week, also reaching a new high in 127 weeks (approximately 2 and a half years) since mid-November 2023. In the West New Territories, the CCL Mass is at 140.86 points, up 0.37% this week, with a total increase of 0.98% over 2 weeks, reaching a new high in 127 weeks (approximately 2 and a half years) since mid-November 2023. In Kowloon, the CCL Mass is at 152.47 points, down 0.16% this week, with a slight decrease after increasing for 3 weeks, still ranking as the 2nd highest since early September 2023, for a total of 136 weeks (over 2 and a half years). In 2026, the CCL has increased by 6.67%, CCL Mass by 7.07%, CCL for medium and small units by 6.77%, CCL for large units by 6.14%, Hong Kong Island by 10.99%, Kowloon by 5.35%, East New Territories by 6.56%, and West New Territories by 6.13%.