The price of private homes fell in June, five consecutive rises in cable, rents rose 0.82%, the most urgent in 10 months

Affected by external economic turmoil and frequent local violence, Hong Kong’s property price index fell for five months

According to the latest data released by the Rating and Valuation Department (hereinafter referred to as the Rating and Valuation Department), the overall private residential price index for June was 393.7, down 0.78% month-on-month. However, property prices in the first half of this year still rose by 9.54%. Rents continued to rise and rose for four months. In June, the overall private residential rent index was reported at 197.2, up 0.82% month-on-month; in the first half of this year, it rose by 2.02%.

According to the data of the Department of Differential Assessment, the overall private residential price index continued to rise in the first five months of this year, and reached a record high of 396.8 in May, but the uptrend eventually broke in June and fell 0.78% month-on-month. Property prices rose 9.54% in the first half of the year, an increase of 0.66% from the end of June last year.

Small and medium-sized units are half-loaded and 9.6% outperformed

For small and medium-sized units with a usable area of ​​less than 1075 square feet or less, the June price index was 396.7. Although it fell by about 0.75% month-on-month, it rose 9.62% in the first half of the year, outperforming the overall property price. In June, the sales index of large units with a usable area of ​​1076 square feet or more was reported at 332.2, which fell by 1.66% month-on-month and rose by 7.4% in the first half of the year.

The price index of various types of area units fell across the board in June. The C-type units with a usable area of ​​753 to 1075 square meters fell by 1.82% per month; the D-class units with a usable area of ​​1076 to 1721 squares and the largest area of ​​1722 square meters. Or the above E-type units, the price index fell by 1.54% and 1.68% respectively. Class A units with a usable area of ​​less than 431 also fell 0.91%; Class B units with a usable area of ​​431 to 752 square meters had the smallest monthly decline, only slightly down 0.4%.

Although the price of private homes has fallen, the rent has not been affected for the time being. It has risen for 4 months since February. In June, it recorded a monthly increase of 0.82%, which is the biggest monthly increase in the past 10 months since August last year.

However, the rents of small and medium-sized units and large units have become polarized. The rent index of Class A units rose by 1.48% month-on-month, and that of Class B units also recorded a 0.87% increase. The rest of the categories recorded a decline. Class E and the D-class fell by a disappointing rate of 1.48%. The C and D units fell by 0.24% and 0.25% respectively.

Laiwu expects to continue to adjust property prices in the next two months

Cai Hongxing, executive director and chief executive officer of Huasheng Group, pointed out that due to the uncertainty of the periphery and the social atmosphere of Hong Kong, the property market has a short downward pressure. However, he has confidence in the property market in Hong Kong. The public will continue to have a need to live and work in peace and contentment. Over the years, the property market has experienced ups and downs and will continue to develop. Recently, social conflicts have continued, but the Hong Kong society is very rational. I believe that there will be solutions. I hope that the time required will be “shorter.”

Lin Haowen, executive director and director of valuation and consulting at Knight Frank, believes that with the recent development of social events and the current situation of the property market, the private residential price index for the next one to two months may continue to adjust. The property price in the second half of this year may be lowered by about 5%. The annual calculation still has about 5% increase.


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