Dawan District Index rose 2.1%, the biggest increase in 8 months

Dawan District Index rose 2.1%, the biggest increase in 8 months

The residential property market sentiment was good, driving the Zhongyuan Dawan District Index to rise 2.1% month-on-month to 107.67, the most recent increase in nearly 8 months, mainly due to the soaring of the Zhuhai Index of the Central Plains Dawan District and the Hong Kong Index of the Central Plains Dawan District. It is expected that the Zhongyuan Dawan District Index will further increase in April.

Zhongyuan Real Estate announced the latest Zhongyuan Dawan District Index yesterday, which was reported at 107.67 in March, up 2.1% month-on-month. It was significantly expanded from the 0.32% increase in February, and rose 2.43% for two consecutive months.

Of the 12 indices, only three of the cities recorded decreases in March, with Macau, Jiangmen and Foshan, falling by 0.21% to 4.13%. The remaining eight cities all recorded gains ranging from 0.78% to 4.11%. The Zhuhai Index of the Central Plains Dawan District reported 99.56, which surged 4.11% month-on-month. Secondly, the Hong Kong Index of the Central Plains Dawan District recorded a 3.54% increase in a single month, at 109.88.

Chen Yongjie, vice president and head of the residential division of Centaline Property Asia, said that Sino-US trade disputes have eased and the property market has warmed up after the traditional Lunar New Year, which has brought the overall property market in Dawan District up. Hong Kong is benefiting from the linked exchange rate. The Hong Kong dollar is pegged to the US dollar. The United States announced in March that it will not raise interest rates this year. Hong Kong continues to enjoy a low interest rate environment, which has led to the outbreak of purchasing power.

Chen Yongjie believes that the Asian region, especially the Dawan District property, will continue to be a safe haven for global funds. It is expected that the property market in Dawan District will continue its March momentum in April.

The Central Plains Dawan District Index is based on the price of first-hand and second-hand residential properties in nine cities in Guangdong Province and two special zones (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou and Zhaoqing, and Hong Kong and Macau Special Administrative Regions). The core data is constructed with the annual GDP of each city as the weight.