Secondary home prices rose 0.4 per cent month on month, while rents breached the previous peak set more than six years ago, data from the Rating and Valuation Department released on Wednesday showed.
The official home price index now stands at 294.3, the highest since the 297.6 in July last year, bringing its gain to 1.76 per cent so far this year.
“Residential property prices are projected to rise by about 3 per cent in 2025,” said Eddie Kwok, executive director for valuation and advisory services at CBRE Hong Kong. “We believe the residential property market will continue to rise in 2026, with a more significant increase estimated at around 3 per cent to 5 per cent.”
The sustained rise in prices extended an upwards trend that began in April, after a cut in stamp duty helped lift sentiment and transactions.
Financial Secretary Paul Chan Mo-po reduced the stamp duty on homes priced up to HK$4 million (US$514,330) to HK$100 from HK$60,000 in his budget in February to revive the market. Before that, the HK$100 incentive was only extended to homes priced up to HK$3 million.
