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South China Morning Post
26-06-2025
- Business
- South China Morning Post
Hong Kong home prices post tiny gain in April, bolstering case for end of long slump
Hong Kong's lived-in home prices posted a small gain for the second straight month in May, according to official data, fortifying hopes of a sustained recovery in the city's property market. Advertisement An official index measuring secondary home prices inched up by 0.03 per cent in May from a month earlier, the Rating and Valuation Department said on Thursday. In April, the gauge rose 0.35 per cent from March. In the first five months of the year, second-hand home prices declined by 0.9 per cent. They are down 28 per cent from a peak in September 2021. 'While residential prices are bottoming out, significant rises are not expected in 2025,' said Eddie Kwok, executive director for valuation and advisory services at CBRE Hong Kong. 'Given the improvement in market sentiment coupled with low financing costs, we maintain our forecast of 0 per cent to 5 per cent growth in residential prices for 2025. This may also call an end to the residential market correction since 2021.' Advertisement Prices retreated slightly in Class E segment – homes with saleable area of at least 160 square metres (1,722 sq ft) – while four other housing categories were either unchanged or posted small gains, the data showed.
South China Morning Post
28-05-2025
- Business
- South China Morning Post
Hong Kong's April lived-in home prices eke out 0.35% gain as stamp duty cut spurred deals
Hong Kong's lived-in home prices rose for the first time in five months in April, as transactions were spurred by a cut in the government's stamp duty for homes worth up to HK$4 million (US$510,000). Advertisement An index measuring home prices eked out a 0.35 per cent gain to 285.7 last month, from 284.7 in March, according to the Rating and Valuation Department on Wednesday. Transactions in the residential market jumped last month. Previously, buyers of homes worth up to HK$3 million were subject to a relaxed HK$100 stamp duty. This was extended to homes worth up to HK$4 million following the budget announcement in February. Homes worth up to HK$4 million accounted for a quarter of residential sales in 2024, according to CBRE. The cut in the stamp duty was likely to increase the share of this segment to 30 per cent of residential transactions, the property consultancy said. More to follow ... Advertisement
