According to market intelligence, Centaline Property Agency Research Department Senior Associate Director Yeung Ming-yi pointed out that the Centaline City Leading Index (CCL) latest reading reached 138.84 points, rising 0.78% weekly, reflecting favorable market conditions for the week of July 7 to July 13. CCL has gained for two consecutive weeks with a cumulative increase of 1.76%, marking the second-highest level this year and creating a 29-week high since early January.

Yeung Ming-yi noted that interbank rates began declining in May, with H-rate mortgages falling below the cap rate for the first time since July 2022, driving Hong Kong property prices to bottom out and turn upward. Over the past nine weeks, CCL recorded seven gains and two declines, accumulating a 2.72% increase, already exceeding the 2.50% cumulative gain over 14 weeks following the rate cut in September 2024. The index is expected to continue challenging the year-high of 139.25 points in the short term, with only 0.41 points or 0.30% remaining.

Hong Kong property price gains have expanded in 2025, with CCL currently up 0.87% year-to-date. The index has risen 2.93% from the low of 134.89 points before the March 2025 Budget, gained 2.19% from the low of 135.86 points before the first rate cut in September 2024, declined 27.44% from the historical high of 191.34 points in August 2021, and dropped 2.92% from the pre-stamp duty removal low of 143.02 points in March 2024.

Yeung Ming-yi stated that on July 31, the Federal Reserve and major Hong Kong banks maintained unchanged interest rates. The Hong Kong Monetary Authority intervened in the foreign exchange market for the seventh time, accumulating HK$91.108 billion in Hong Kong dollar selling interventions. The stablecoin regulations officially took effect on August 1, with impacts on Hong Kong's local secondary property prices expected to be reflected in the CCL released in late August 2025.

The Centaline City Leading Index for Mass Housing (CCL Mass) reached 140.55 points, up 1.11% weekly. The CCL for small to medium-sized units reached 139.11 points, up 1.09% weekly. Both CCL Mass and CCL for small to medium-sized units recorded their largest weekly gains in 17 weeks, with both rising for two consecutive weeks, accumulating increases of 2.05% and 2.02% respectively. Both indices similarly reached 51-week highs since early August 2024.

The CCL for large units reached 137.42 points, down 0.79% weekly, with the index still fluctuating around the 138-point level. Regional property prices showed three gains and one decline. Kowloon CCL_Mass reached 139.46 points, up 2.38% weekly. New Territories West CCL_Mass reached 127.83 points, up 1.22% weekly. Hong Kong Island CCL_Mass reached 138.35 points, up 0.07% weekly, rising for four consecutive weeks with a cumulative gain of 3.30%. New Territories East CCL_Mass reached 152.05 points, down slightly by 0.06% weekly, with the index hovering above 150 points.

For 2025, among the eight major property price indices: CCL gained 0.87%, CCL Mass rose 1.75%, CCL for small to medium-sized units increased 1.54%, CCL for large units declined 2.44%, Hong Kong Island fell 0.16%, Kowloon rose 4.22%, New Territories East gained 2.47%, and New Territories West dropped 0.41%.