Lau Ka-fai pointed out that Hong Kong property market transactions surged after the Hong Kong government withdrew. Coupled with the Federal Reserve keeping interest rates unchanged and expecting to cut interest rates this year, market confidence continued to increase, and the confidence index continued to rise for 3 weeks.
The Zhitong Finance App learned that on April 1, the latest report of the “American Confidence Index” was 61.9 points, up 2.5% from week to week. Liu Jiahui, chief analyst at Midland Properties, pointed out that Hong Kong property market transactions surged after the Hong Kong government withdrew. Coupled with the Fed keeping interest rates unchanged and expecting to cut interest rates this year, market confidence continued to increase, and the confidence index continued to rise for 3 weeks. The confidence index has been above average for 2 consecutive weeks (a good and weak dividing line for property prices). If the situation continues in the future, Hong Kong property prices are expected to stop falling and stabilize.
According to the price reduction ratio on the Midland Property website, out of the 3 districts in Hong Kong, the New Territories had the highest price reduction ratio; if divided by subdivision, the three districts with the highest price reduction ratio were Tsuen Wan, Four Xiaolong/Lai Chi Kok, and Bel-Air Wan/ Pokfulam.
In terms of unit area, the top 3 ranking in price reduction ratio remained unchanged for 2 consecutive weeks. The largest markdown ratio was for Class B units with a saleable area of about 431 to about 752 square feet; followed by Class C units with a saleable area of about 753 to about 1,075 square feet; followed by Class D units with a saleable area of about 1,076 to about 1,721 square feet.
In terms of property prices, the latest report of the “United States Real Estate Price Index” was 134.19 points, up 0.4% on a weekly basis, rising for 2 weeks; however, it is still down 0.09% from four weeks ago, and the decline has narrowed to 2.45% since 2024.
If divided into 3 zones, the latest report of the “Midland New Territories Property Price Index” was 123.74 points, up 0.77% weekly, and 0.45% higher than four weeks ago. The “Midland Kowloon Property Price Index” has narrowed to 2.56% so far this year; the latest report of the “Midland Kowloon Property Price Index” has narrowed to 1.63%. Although it is still down 0.69% from four weeks ago, the “Midland Hong Kong Property Price Index” has narrowed to 1.63% so far this year; on the other hand, the latest report of the “Midland Hong Kong Property Price Index” was 142.37 points, down 0.29% weekly. It is also down 0.2% from four weeks ago, while property prices in the district have fallen so far during the year 4.06%