Affected by the epidemic and the reduction in US debt purchases, Hong Kong's property prices softened in the fourth quarter, and the year-over-year growth rate has narrowed.
Huang Liangsheng, senior co-director of the Research Department of Centaline Real Estate, estimated that the CCI of Centaline City Index in December was about 182.50 points. Compared with the 174.11 points at the end of 2020, property prices for the whole year increased by about 4.8%.
In addition, he pointed out that Hong Kong stocks fell by 14.1% this year. The performance of the Hong Kong property market has clearly outperformed the stock market. Property prices have risen for 13 consecutive years, but Hong Kong stocks have fallen for two consecutive years.
Property prices will rise first and then fall in 2021.
The property market continued to flourish. The CCI rose from 174.11 points in December 2020 to a historical high of 185.62 points in September 2021. Property prices in the first three quarters increased by 6.6%.
Property prices have broken through historical highs and are struggling to hold on. However, in the fourth quarter, the COVID-19 variant virus is raging around the world. Coupled with the unfavorable news of the United States starting to reduce debt purchases, property prices have gradually softened. The CCI is expected to fall by about 1.7% in the fourth quarter.
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