Central China Real Estate: CCL is reported at 141.11, up 0.21% from last week.

Senior Associate Director of Research, Centraline, Yang Mingyi pointed out that the Centraline City Leading Index (CCL) closed at 141.11 points, up 0.21% from last week. The index reflects the market sentiment of the week, which includes the first round of sales of the first batch of residential properties in the Kai Tak Development, Hong Kong, on July 13, and the first price list of the Yunmen Golden Bay, Hong Kong, on July 8.

Developers are offering discounts on new launches, and the first round of sales is ideal. The market is also expecting a rate cut, and the property market in Hong Kong has slightly stabilized. The CCL ended its six-week decline, rising slightly, and the index has been fluctuating between 140 and 141 points for the past four weeks. The first round of sales of new properties has taken away a lot of purchasing power, and the owners are expecting a rate cut. The secondary property market in Hong Kong is still under pressure, and the overall property prices are expected to continue to fall, but the fall will be gradual.

The CCL is still at a near-eight-year low this week, returning to the level in early October 2016. The CCL has fallen 4.14% cumulatively since 2024. Compared with the historical high of 191.34 points in August 2021, the CCL has fallen 26.25%. Compared with the low of 143.02 points before the retreat in March 2024, the CCL has fallen 1.34%. The impact of the first round of sales of the first batch of residential properties in the Kai Tak Development, Hong Kong, on July 13, and the first price list of the Yunmen Golden Bay, Hong Kong, on July 8, will not be reflected in the CCL until the end of August.

The Centraline City Leading Index for large units (CCL Mass) closed at 141.52 points, up 0.20% from last week. The CCL (small and medium-sized units) closed at 140.17 points, up 0.13% from last week. Both the CCL Mass and the CCL (small and medium-sized units) ended their six-week decline and have been fluctuating at near-eight-year lows since September 2016. The CCL (large units) closed at 145.82 points, up 0.59% from last week, and has risen for two consecutive weeks, up 1.71% in total. The CCL (large units) is still at a seven-and-a-half-year low and has returned to the level in early February 2017.

Two of the four districts saw an increase, while the other two saw a decrease. The CCL Mass on Hong Kong Island closed at 140.75 points, up 1.14% from last week, and the index is still fluctuating at the level in early August 2016. The CCL Mass on Kowloon closed at 138.79 points, up 0.58% from last week, and has risen for two consecutive weeks, up 0.60% in total. The index has returned to the level in early October 2016. The CCL Mass on New Territories East closed at 153.04 points, down 0.04% from last week, and has fallen for two consecutive weeks, down 1.54% in total. The index has maintained the level in early February 2017. The CCL Mass on New Territories West closed at 129.53 points, down 1.17% from last week, and has fallen for two consecutive weeks, down 1.29% in total. The index has returned to the level in early December 2016.