27/2/2018-6

Private residential property index rose for another 22 months

Hong Kong’s property index rose 22 consecutive months and broke the ceiling for 15 consecutive months, but the rent index ended 13 consecutive lifts. Data from the CFA indicated that the price index of private residential flats in January was 357.5 points, up 1.3% from the previous month and even rising for 22 months. The index hit a record high for 15 consecutive months, up 15.4% from 309.7 points in the same period of last year. Among them, the property price index for small and medium-sized flats was 359.6 in January, up 1.3% MoM, while the property index for large flats was 315.9, up 1.1% MoM.

Figures show that the average selling price of “boarding plates" on Hong Kong Island last month was about $ 6.8 million while the average selling prices of “boarding plates" in Kowloon and the New Territories were about $ 5.6 million and $ 5.26 million respectively.

As for rents, January January index of private residential rents fell 0.3% MoM to 186.5. The drop was recorded for the first time in 13 months. The index recorded a year-on-year increase of about 6.3% from 175.4 points in the same period last year. Among them, the rent index of small and medium-sized flats was 190.4 in January, down 0.31% from the figure of 191 in the previous month, while the monthly rent index for large-scale flats was 151.5, with no monthly increase.

Central Plains Real Estate Asia Pacific Vice President and Housing Minister Chen Yongjie said the Central Plains City Leading Index (CCL) broke through 170 points last Friday, a record high, the latest reported 171.59 points, CCL eight index hit a record high, the visible property prices Continue to rise. The figures of the DOE lagged behind that of the CCL, believing that the index of the DOE will continue its record high in the future.

Richemont real estate research department director Chen Haichao said property prices continued to rise, reflecting strong market demand, supply of second-hand market to catch up with the market demand, and thus further push prices. Chen Haichao also pointed out that there is no new push in the Budget for the property market and the U.S. interest rate keeps rising.