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<HK Home>Midland Expects HK Property Prices to Climb 5% This Yr, Ending 3-Yr Fall
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The local property market is experiencing a boom in volume, value, and price, meaning that the annual transaction volume, transaction value, and property prices are all ascending across the board, Midland Group's CEO (Residential), Dave Ma, pointed out. The performance of the first-hand housing market was particularly outstanding, with vibrant trading. According to the Midland Property Research Center, which compiled data from the Sales of First-hand Residential Properties Electronic Platform and market sources, 11M25 charted 18,736 first-hand transactions, exceeding 2024's total of 15,504 by more than 20%, and setting a new high since the 2013 first-hand sales ordinance. In terms of value, 11M25’s first-hand transaction value reached HKD189.2 billion, also surpassing 2024's total of approximately HKD188 billion by about 0.6%, notching a four-year high. Regarding property prices, Ma said that Midland Property Price Index of the latest week widened its upswing, last printed at 132.92, up 0.76% WoW, marking the sharpest increase in six weeks. The index returned to the level of early July last year, logging a new high in approximately 17 months. Property prices have climbed 3.74% so far this year, and with many positive factors driving the market, prices are expected to ascend further this month, with an anticipated annual rise of about 5%, marking the first uptick after a three-year downfall in property prices this year. AASTOCKS Financial News Website: www.aastocks.com |
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