NEW YORK (Reuters) – The latest April property index closed at 327.4 points, up 2.1% MoM, and recorded a record high. Property prices rose for 13 months, up from 21% %, Among them the most significant increase in fine units.
Estimates: Property prices rose 2.1% YoY on a monthly basis
Last year, the Government announced that the private residential property price index reported 327.4 points, up 13 months since March last year, the cumulative increase of up to 21%, while the latest April The monthly increase of 2.1%, although slightly slower than in March, but still maintain a two-month high-speed growth, the current property prices compared to 97 years of historical high 172.9 points, 9 percent higher.
It is worth noting that the property price index compiled by the SDB has lagged from the prevailing market conditions. In other words, the increase in property prices in April did not reflect the Government’s tightening of the “one or more” exemption arrangements in mid- It is expected that the performance of the index will be the fastest in the next 1 to 2 months in order to reflect the tightening of “one or more” and the tightening of the mortgage effect of the HKMA.
430 sq.ft. Property Price rose 2.6%
As for the rise in property prices, mainly by small and medium-sized units, especially the practical area of less than 430 square feet of small units rose 2.6% monthly, outperforming the market, up 20.7% year on year, followed by the area of 431 to 752 Square feet of small and medium-sized units, the monthly increase of 1.8%. On the contrary, an area of more than 1,722 square feet super mansion rally weak, only 0.6% monthly increase.
Some analysts believe that the current property market was “dry up” state, second-hand flow slow, individual transactions have pushed up property prices.
In addition, the bank raised the mortgage rate, but reflects the broker on the market expected CSI index (CENTA-SALESMAN INDEX) latest 73.38 points, with the last week’s 73.18 points rose 0.2 points, for 6 consecutive weeks hovering at 70 points to 80 Point, reflecting most of the brokers continue to optimistic about the property market. And this week the index mainly reflects the May 29 to June 4 market expectations.
Private rents in April, the monthly rent index of 178 points, up 0.3% month on month, breaking the record high in October 2015, even up 5 months cumulative increase of 3.4%, up 9% year on year.
Various units rose similar to the super luxury rose 0.5% monthly increase, while the small units rose 0.4%.