According to the latest data, valuations in 19 out of 20 key housing estates have decreased, ranging from 0.41% to 7.8%, with only one estate maintaining stable prices.

The secondary property market is experiencing reduced transactions, and banks are adopting a more cautious attitude towards valuations, further exacerbating the differentiation in valuations. This month, the valuations of units in 5 estates were lowered, with a total of 19 estates recording declines ranging from 0.41% to 7.8%. Among them, the unit A in Block 10 of Hanford Centre in North Point experienced the largest decline for two consecutive months, with a monthly decrease of 7.8%.

Unit C on the middle floor of Block 9 in City Garden, with an area of 581 square feet, maintained stable valuations for two consecutive months but decreased to 7.98 million this month, breaking the psychological threshold of 8 million, with a monthly decrease of 500,000, or about 5.9%. Unit E on the lower floor of Block 1 in Phase 1 of The Wings in Tseung Kwan O was valued at 6.27 million this month, a decrease of 5.29% from the previous month, marking the fourth consecutive month of decline.

In addition, valuations in 13 other estates this month ranged from approximately 1% to 4.33%, while valuations in 2 estates dropped by less than 1%, ranging from 0.41% to 0.96%. For instance, Unit C on the middle floor of Block 20 in City One Shatin, with an area of 327 square feet, was valued at 4.4 million this month, a slight decrease of 50,000, or 1.12%. Unit A on the middle floor of Block 7 in Harbourside in Tai Kok Tsui, with an area of 353 square feet, was valued at 4.8 million this month, a decrease of only 0.41%, marking the fifth consecutive month of decline since its valuation of 5.7 million in August last year.

Only Unit A on the lower floor of Block 6 in Phase 2 of Yingwan Garden in Tung Chung maintained stable valuations, with an area of 848 square feet, valued at 8.5 million, becoming the most resistant to decline this month.

The decline in the property market may be attributed to various factors, including policy regulations, economic conditions, and market supply and demand. With the occurrence of social events in Hong Kong, some buyers have become concerned about the future market outlook, opting to observe or temporarily withdraw from the market, resulting in reduced transaction volumes, thereby affecting property price trends. At the same time, banks' scrutiny of property loans has become relatively stricter, increasing the burden and risk for homebuyers.