In Hong Kong’s “Hong Lou” real-estate sector, the city’s leading index CCL for the Central Plains City Leading Index fell 0.77% week over week, the largest drop since the end of December last year.

The Centaline City Leading Index (CCL) latest reading is 159.54 points, down 0.77% week-on-week, representing the largest decline in 28 weeks since the end of December 2025. Yang Ming-yi, Senior Joint Managing Director of Centaline Property’s Research Department, said the data reflects the market conditions for the week in which the U.S. Federal Reserve and local major banks announced they would keep interest rates unchanged on June 18.

The Securities and Futures Commission’s crackdown on illegal cross-border capital outflows by Mainland funds, the retreat in Hong Kong stocks, the Hang Seng Index falling below the 24,000-point level, rising expectations for U.S. interest rate hikes, as well as the World Cup drawing focus, have all led to slower trading in both the primary and secondary markets. This has affected the CCL, which had risen for 5 consecutive weeks before slipping, with home prices consolidating at high levels; the index also remains the 3rd highest (nearly 3 years) since early September 2023, representing 147 weeks.

Although fresh military clashes once again broke out between Iran and Israel in recent days, Hong Kong stocks rebounded and moved back above 24,000 points. Together with positive developments such as developers actively deploying to sell new flats, banks raising mortgage loan cash rebates, and the World Cup nearing its final stages, it is expected that the upward trend in home prices in the short term will not change; however, there will be repeated consolidation and the pace of gains will slow. CCL is currently 5.46 points, or 3.42%, away from its third-quarter target of 165 points.

She continued, for the July 8 close when the Hang Seng Index regained above 24,000 points, with the Iran-Israel war reigniting, on July 9 Yuen Long Qian Yu will announce its first price list for 120 units. The cash rebates for mortgage loans at Bank of Communications and Hang Seng have been raised to as high as 1.4%. For local small- and medium-sized banks, mortgage loan amounts of 3 million dollars or more can receive mortgage loan cash rebates of up to 1.5%. The impact on local secondary home prices will only start to be reflected in the CCL to be released at the end of July 2026.

Centaline City Large Estates Leading Index (CCL Mass) is 160.93 points, down 0.78% week-on-week. CCL (for small and medium-sized units) is 159.48 points, down 0.81% week-on-week. Both CCL Mass and CCL (for small and medium-sized units) ended a 3-week consecutive rise, with declines both being the largest in 25 weeks since mid-to-late January this year. The index is also the 3rd highest (nearly 3 years) since early September 2023, at 148 weeks.

CCL (for large units) is 159.88 points, down 0.52% week-on-week, ending a 4-week consecutive rise; the index remains the 2nd highest since the end of October 2023 (over 2 and a half years), at 141 weeks.

As for home prices across the four regions: two fell, one rose, and one remained flat. Hong Kong Island’s CCL_Mass is 160.94 points, down 1.93% week-on-week, ending a 3-week consecutive rise; the decline is the largest in 28 weeks since the end of December 2025, and the index remains the 6th highest since the end of September 2023 (145 weeks). West New Territories’ CCL_Mass is 142.73 points, down 1.5% week-on-week, with the decline being the largest in 10 weeks since the end of April this year; the index remains the 7th highest since the end of October 2023 (over 2 and a half years), at 141 weeks.

Kowloon’s CCL_Mass is 161.13 points, with no week-on-week change; the index remains the 2nd highest since early July 2023 (156 weeks). East New Territories’ CCL_Mass is 172.80 points, up 0.21% week-on-week, with a 2-week cumulative increase of 0.36%; the index has reached the 2nd highest since early September 2023 (147 weeks).

For 2026 so far, CCL has temporarily increased by 10.71%. CCL Mass is up 10.85%, CCL (for small and medium-sized units) is up 10.66%, and CCL (for large units) is up 10.95%. For regional performance, Hong Kong Island is up 14.83%, Kowloon is up 11.33%, East New Territories is up 8.94%, and West New Territories is up 7.53%.(sl/j)