The latest Centa-City Leading Index (CCL), which reflects the trend of second-hand property prices in Hong Kong, reported a value of 137.81 today (Nov. 22), representing a weekly decline of 0.71%. This marks a continued presence at an over eight-year low. Prices for small to medium-sized units fell by 0.73%, while large units decreased by 0.61%, ending a three-week upward trend.
Among the four regions in Hong Kong, only the New Territories West saw an increase of 0.7%, marking a three-week cumulative rise of 2.9%. In contrast, prices in Hong Kong Island, Kowloon, and the New Territories East dropped by over 0.7% to nearly 1.6%.
Centaline Property noted a strong atmosphere of market caution, leading to a slowdown in second-hand transactions and a softening of property prices after two weeks of increases. With many properties having been absorbed earlier, the second-hand market is starting to show signs of a tug-of-war. The CCL may face resistance around the 140 level, and it has decreased by a cumulative 6.4% this year.
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