Hong Kong’s secondary home prices rose for a third straight week, hitting their highest level in more than two years, as strong demand for new developments lifted market sentiment and drew buyers back into the resale market.
The Centaline City Leading Index, a widely watched gauge tracking prices at major housing estates, climbed 0.52 percent from a week earlier to 147.23, marking a cumulative gain of 1.8 percent over three weeks and its highest reading since early January 2024, Centaline Property Agency said.
Market activity accelerated ahead of the Chinese New Year, with brisk sales of new flats prompting some homeowners to withdraw listings or raise asking prices, while secondary-market buyers were increasingly willing to pay more, Centaline said.
Transaction momentum has picked up as buyers moved faster before the holiday period, said Yeung Ming-yee, senior associate director at Centaline. She added that the post-holiday seasonal upturn was likely to continue, pushing home prices higher in the near term.
The CCL’s next target is 156 points — the level seen before the reopening of the Hong Kong–mainland border in 2023 — implying further upside of nearly nine points, Yeung said.
Prices of mass-market homes also strengthened. The CCL Mass index rose 0.51 percent to 148.8, while the index for small- and medium-sized flats gained 0.52 percent to 147.55. Both indices have risen for three consecutive weeks, reaching their highest levels since late 2023.
The index tracking large residential units increased 0.5 percent to 145.59, its second-highest level in about 18 months, the data showed.
