Media365
The official home price index climbed to 297.3 in November, the highest level in 16 months and just shy of the 297.6 recorded in July last year, according to the Rating and Valuation Department.
Prices have gained 3.52 per cent so far this year, marking a clear improvement from 2024, when values continued to slide amid weak demand and tight financing conditions.
Looking ahead, price growth was expected to moderate in December after a strong run earlier in the quarter, as market sentiment was shaken late in November by a deadly fire at Tai Po’s Wang Fuk Estate, which claimed at least 162 lives and weighed heavily on public mood. Attention also shifted towards the Legislative Council election, contributing to a temporary pause in transactions.
“As a result, December’s price increase is likely to narrow to around 0.5 per cent,” said Derek Chan, head of research at Ricacorp Properties. Chan said home prices were still on track to rise about 3.3 per cent for the full year, wiping out the downtrend of the previous three years.
