Hong Kong residential property prices end thirteen-month growth streak

Hong Kong’s private residential property market has ended a thirteen-month period of price increases. According to provisional figures from the Rating and Valuation Department, the private home price index fell by approximately 0.46 per cent in July 2026, reaching 321.5 points.

Despite the recent monthly decline, the index for the first seven months of the year shows a cumulative rise of about 7.31 per cent. However, current prices remain roughly 19.2 per cent below the historic peak of 398.1 points recorded in September 2021. In contrast to property sales, the rental sector continues to grow; the rental index reached a record high of 207.4 points in July, marking nine consecutive months of growth.

In the luxury segment, some owners are facing significant losses on trophy homes. Recent transactions include a Bel-Air luxury house in Pok Fu Lam sold for HK$138 million, representing a loss of over HK$37 million compared to its 2018 purchase price. Another high-end property at The Morgan on Conduit Road sold for HK$190 million, which was 45 per cent below the HK$344 million paid by the previous owner in 2018.