The Zhitong Finance App learned that the Hong Kong Differential Assessment Service announced today that the Hong Kong Private Residential Property Price Index rebounded to 320.8 in September, rising 0.19% month-on-month, rising for two consecutive months, and 9.34% year-on-year; rising 7.1% over the first nine months. The rent index for the same period was 212.2 points, up 0.5% month-on-month and 6.2% year-on-year. Leung Chun-fung, senior director of Colliers Hong Kong Project Development and Planning, said that the overall atmosphere in the housing market has continued to improve recently, and the first-hand market has maintained a certain sales momentum, reflecting a gradual recovery in buyers' confidence in entering the market. Earlier performance in the land market also sent a positive signal. Developers are willing to actively participate in the bidding for high-quality land, reflecting the industry's continued confidence in the medium- to long-term prospects and development value of the housing market.
The bank expects the recovery trend in the housing market to continue, maintaining the forecast of an 8% to 10% increase in property prices for the full year of this year, and expects a further 3% to 6% increase in property prices in 2027. However, next year's upward trend is expected to be milder than this year, and the market still needs to leave behind changes in the surrounding environment, including US interest rate trends and Hong Kong interest rate environment, as well as the geopolitical situation and global financial market fluctuations. These factors may affect buyers' pace of entry into the market and investment sentiment.
Overall, the bank believes that the supporting factors in the current property market have increased compared to before. As long as the primary market maintains sales momentum, development pricing remains close to market affordability, and continued rental demand and rent performance also help to increase the relative attractiveness of buying properties, residential property prices will still have a moderate upward foundation.