Mei Lian: The upward trend in Hong Kong property prices remains unchanged.

The latest report of the Centaline Property Price Index stands at 148.55 points, reflecting a weekly decline of 0.21% with narrow fluctuations; compared to four weeks ago, property prices have decreased by 0.34%. However, since the beginning of this year, property prices have accumulated an increase of 10.27%. Meanwhile, the Centaline Confidence Index, which reflects the selling attitude of property owners, is currently at 74.3 points, down 2% week-on-week. Centaline Property analyst Sam Cheng indicates that with multiple new developments launched and deployed, the atmosphere of the property market is favorable. However, as first-hand projects capture the market focus, some eager sellers are reducing prices to boost attractiveness, resulting in an increase in discounted listings, which has led to a drop in the confidence index; nonetheless, the confidence index remains above the average level, suggesting that the upward trend in property prices remains unchanged. When categorized by three regions, property prices show varying developments week-on-week. The Centaline Index for Hong Kong Island is currently at 157.18 points, down 0.9%; the Centaline Index for the New Territories stands at 134.88 points, down 0.25%; in contrast, the Centaline Index for Kowloon is at 154.95 points, with a slight increase of 0.09%. Compared to four weeks ago, property prices in the three regions also exhibit varied developments, with Hong Kong Island and Kowloon decreasing by 0.13% and 0.92%, respectively, while the New Territories saw a slight increase of 0.09%. As for the changes in property prices this year, all three regions have shown an upward trend, with Hong Kong Island, Kowloon, and the New Territories rising by 12.41%, 10.72%, and 9.2%, respectively, since the beginning of the year.