Centaline Property's senior co-director of research, Yang Mingyi, noted that the latest Centa-City Leading Index (CCL) reached 142.49 points, marking a weekly increase of 0.54%. This reflects market conditions during the week when U.S. and Hong Kong banks announced interest rate cuts and the leaders of China and the U.S. reached key agreements during their meeting in South Korea on October 30.

With Hong Kong banks cutting rates twice in a row, strong new home sales have boosted market sentiment, while secondary transactions remain active. The CCL has risen for two consecutive weeks, accumulating a 1.52% gain and hitting a 73-week high since late June 2024.

Homeowners' confidence has visibly improved, with many reducing price negotiation margins, and some even withdrawing listings or raising prices—signaling potential further upward momentum in property prices. The current CCL is just 0.53 points (0.37%) short of its Q4 target of 143.02 points.

Since May, when interbank rates declined, Hong Kong property prices have rebounded from their lows. The CCL has risen 5.42% from its May low of 135.16 points (when HIBOR-based mortgage rates fell below the cap). So far in 2025, property prices have accumulated a 3.52% increase.

Compared to the pre-budget low of 134.89 points in March 2025, the index is up 5.63%. It has also risen 4.88% from the pre-rate-cut low of 135.86 points in September 2024 but remains 25.53% below its August 2021 peak of 191.34 points.

Recent property market activities include: - November 18: The first 30 units at *Fortune Residences* in Cheung Sha Wan were priced. - November 19: *Chinachem Group* secured a residential site at the intersection of Wing Shun Street and Texaco Road in Tsuen Wan for HK$2.475 billion. - November 20: *The Orchard* in Yau Ma Tei released its first 30-unit price list. - November 21: *Ocean Pride* in Yau Tong launched its first 150-unit sales round. - November 23: *The Grand Horizon* Phase 3 in Tai Po sold 160 units.

The impact of these transactions on secondary market prices will be reflected in the CCL data released in mid-December 2025.

Other key indices: - **CCL Mass** (large estates): 143.91 points, up 0.61% weekly—a 74-week high since mid-June 2024. - **CCL (small/medium units)**: 142.39 points, up 0.53% weekly—a 73-week high since late June 2024. - **CCL (large units)**: 142.95 points, up 0.59% weekly—a 50-week high since early December 2024.

All three indices have risen for two consecutive weeks, with cumulative gains of 1.54%, 1.41%, and 2.09%, respectively.

**Regional Performance (Three Up, One Down)**: - **Hong Kong Island CCL Mass**: 143.10 points, up 1.41% weekly (+3.60% over two weeks)—third-highest in 78 weeks since mid-May 2024. - **New Territories East CCL Mass**: 154.74 points, up 0.87% weekly—seventh-highest in 70 weeks since mid-July 2024. - **Kowloon CCL Mass**: 142.64 points, up 0.83% weekly (+2.95% over two weeks)—a 75-week high since early June 2024. - **New Territories West CCL Mass**: 130.35 points, down 0.75% weekly (-0.75% over two weeks)—still third-highest in 69 weeks since late July 2024.

**2025 Year-to-Date Gains**: - **CCL**: +3.52% - **CCL Mass**: +4.18% - **CCL (small/medium units)**: +3.93% - **CCL (large units)**: +1.49% - **Hong Kong Island**: +3.27% - **Kowloon**: +6.60% - **New Territories East**: +4.29% - **New Territories West**: +1.55%