CCL Reaches to A Half-Year High as the Epidemic Has Eased.

28Hse Editor  2020-06-20  #Transaction
CCL has increased by 2.73% since 1st May. Centaline estimates it would go up and down in the future. Property prices in Hong Kong have gone out of the COVID-19 epidemic haze at the beginning of the year, and have continued to rise since the May Day holiday. The latest Centa-City Leading Index (CCL) is reported at 180.74 points, a new 29-week high, rising by 1.18% weekly, and a cumulative increase of 2.73% since 1st May. The Senior Co-director of Centaline Research Department, Woo Leung-Sing, points out that there are come back signs of social events recently, leading to a repetitive property market trend. It is estimated the repetitive trend will continue, and the upward trend remains unchanged. CCL continues to target 190 points, and the difference is about 5% currently. Journalist Ngan LunLok Woo Leung-Sing points out that all the four CCL overall indexes rise this week after all falling last week, and the trend has repeatedly turned upward. The Mass Centa-City Leading Index(CCL Mass) is reported at 184.72 points, a 40-week new high, and has risen by 1.37% weekly. CCL (small and medium-sized units) is reported at 182.08 points, a 31-week new high, and has risen by1.25% weekly. CCL (large units) is reported at 173.61 points, up 0.76% weekly. The index of small and medium units reaches a 31-week high. It is worth noting that after the May Day holiday, property prices have increased, and CCL has risen by 2.73%. Woo Leung-Sing estimates that the future property prices will continue to repeat, but the upward trend will remain unchanged. The New Territories West property price has the largest increase among the four districts, with an index of 166,42 points, a 35-week high. And it has risen by 1.72% weekly, a 5-week largest. The property price index in Hong Kong Island is reported at 188.19 points, a weekly increase of 1.65%. Property prices in the New Territories East fell alone. Besides, the latest Kowloon property price index is reported at 182.73 points, a 42-week new high, and it has risen by 1.63% weekly, the largest increase in 10 weeks. Also, it is a consecutive rising for two weeks by a total of 2.13%. The property price index in New Territories East is reported at 193.7 points, a weekly decrease of 0.1%, the smallest drop in 8 weeks, and it has maintained the 193 points high level for three weeks. The responses on the house viewing on Father's Day are different. On the other hand, the government announced to relax the 8-person Restriction of Gathering on Friday, and the reactions to the property market are different. According to statistics from Midland Realty Branch, the number of house viewing reservations for 15 indicator housing estates on Father's Day (20th to 21st, weekend) is about 480, up about 2.6% from last week. The Chief Executive of the Midland Real Estate Residential Department, Po Siuming, expresses that developers have recently launched new projects, and many have sold well. The market is still focusing on the first-hand property in the short-term. But it is estimated the second-hand property market will be benefited as the customers that focus on first-hand property turn to the second-hand property. While Centaline Property recorded house viewing reservations for ten leading housing estates on this weekend with 530 groups, a decrease of 4.2% compared with last week. The APAC Vice President and Residential Department President of Centaline Property, Chen Wing-Kit, expresses that the US maintaining the interest rates unchanged and the low-interest-rate environment is expected to be extended for at least two years. And they will have a positive effect on the property market. As the relaxing of the Restriction of Gathering, developers speed up the launching, and a new project in Tsueng Kwan offered competitive prices quickly, becoming the focus of the market. It is expected that the first-hand property market conditions will rebound later this month. In the second-hand property market, many cheap houses have been sold, and buyers need time to adapt; also, it will be Father's Day on Sunday, resulting in a slight decline in the number of flats.
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