CCL expected to rise 175 points in the first quarter
The property prices have been rising steadily. The CCL, which is compiled by the industry and reflects the trend of the second-hand property market, has the latest 170 reports, the fourth highest in history. The index rose by 3% from approximately 165 points at the end of last year and was up 14% from approximately 149 points in the same period last year. Market participants expect the CCL target to rise above 175 points in the first quarter of this year.
Rising prices continue to reach 22 months
As for the official compilation of the property price index, an increase was also recorded. The property price index issued by the Rating and Valuation Department recently showed that it had reported 357.5 points in January this year, which rose by 1.3% month-on-month and rose by 15.4% year-on-year. The increase in property prices lasted for 22 months. Since March 2016, the cumulative increase has reached 31.72%, a new high for 15 consecutive months.
The small and medium-sized units are still the locomotives of Shenglang, with an index of Class A, B, and C below 1,075 square feet. The monthly average rose by 1.3% to 359.6 points, a year-on-year increase of 15.6%. The increase was significantly higher than 1,076 points. Or above, the monthly increase of 1.1% in the D, E class unit index of 315.9 points and the increase of 12.3% over the same period of the previous year. After careful analysis, the Class A units with an area of 431 square feet rose 1.4% month-to-month to 393.5 points. The increase of 15.7% year-on-year surpassed other categories. It also followed the market for a 22-month cumulative increase of 32%.