World Property Weir Rishi: Hong Kong property market is stable and improving, with expected increase in housing prices of 8% to 10% for the whole year.

Data from the Hong Kong Rating and Valuation Department shows that the private residential price index in the entire Hong Kong reached 316.6 points in April, an increase of 0.89% compared to the previous month, marking the 11th consecutive month of increase. On a year-on-year basis, it rose by 10.5%, hitting a high point of over two years. The property prices have increased by 5.7% in the first four months of this year. Kelvin Kuo, Executive Director of Valuation and Advisory Services at CBRE Hong Kong, mentioned that the primary residential market has been performing strongly, with sustained demand returning pricing power back to developers. Recent price increases in new launches are evidence of this trend. The strong momentum in the primary market is gradually leading to a recovery in the overall property market. With increasing confidence in property investment, the prices of secondary properties are also showing an upward trend. He further stated that macroeconomic fluctuations still exist (especially ongoing geopolitical conflicts), but most of the related risks have already been absorbed by the market, and the suppressive effects on market sentiment have diminished. The continuous inflow of capital is providing strong support to the market, and ample liquidity not only drives overall economic activities but also further boosts optimism in the real estate market. Overall, with multiple factors such as stable demand, rising confidence, and abundant capital driving the market, it is expected that property prices in Hong Kong will see an increase of about 8% to 10% for the whole year, showing a stable and positive development trend.