Hong Kong home prices rise 0.69% in a week, breaking two-week decline
The Centaline City Leading Index (CCL) rose 0.69% week-on-week to 161.2, ending two consecutive weeks of decline. Analysts attribute the rebound to mortgage promotions and higher cash rebates from banks.
Hong Kong's secondary-home price index, the Centaline City Leading Index (CCL), rose 0.69 per cent week-on-week to 161.2, ending two consecutive weeks of decline, according to data released by Centaline Property on 9 October. The index has increased 11.86 per cent since the start of the year.
The Large Estate Leading Index rose 0.7 per cent week-on-week, while the index for small-to-medium-sized units and large units increased 0.64 per cent and 0.94 per cent respectively. All three sub-indices ended a two-week losing streak.
Among the four regional housing markets, prices in New Territories West, Hong Kong Island and Kowloon rose between 0.39 per cent and 1.57 per cent week-on-week, while New Territories East fell 0.78 per cent.
Centaline Property said that the recent launch of mortgage promotion plans and higher cash rebates by several banks are expected to support home prices.
