BUSINESS

Hong Kong Home Prices Rise for 11th Month

Published: May. 28, 2026 5:18 p.m. GMT+8

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Prices for used homes hit their highest level since October 2023, extending a rebound driven by stronger buying confidence, tighter supply and improving rental yields. Photo: VCG

Hong Kong’s existing-home prices rose for an 11th straight month in April, extending a recovery driven by stronger demand and rising rents, with analysts turning more bullish on the market outlook.

The city government’s Rating and Valuation Department said the secondhand private residential price index climbed to 316.6 in April, up 0.89% from March and the highest since October 2023. Since June 2025, the index has gained 10.51%. Prices kept rising strongly this year, with month-on-month increases of 1.58% in February and 1.4% in March.

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Hong Kong existing-home prices rose for 11th straight month in April; index hit 316.6 (up 0.89% MoM), highest since Oct 2023, gaining 10.51% since June 2025.
Rental index hit record high for 6th consecutive month in April (up 0.59% MoM); cumulative 5.99% rise since Dec 2024.
Goldman Sachs raised 2026 home-price growth forecast to 15%; CBRE expects 8-10% if macro stable; new supply expected to shrink.

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Who’s Who

Sun Hung Kai Properties Ltd.: Sun Hung Kai Properties Ltd., a Hong Kong developer, launched the Lime Spark project in Tsuen Wan on April 28, selling all units on the first day at an average discounted price of HK$17,177 per sq ft. It then raised prices by up to 4.2% in subsequent rounds, which also sold out completely.

CBRE Hong Kong: CBRE Hong Kong is a property consultancy. Executive director Eddie Kwok noted strong firsthand market growth is lifting the broader housing market and secondhand prices are trending higher. CBRE forecast full-year home prices may rise about 8% to 10% if the macroeconomic environment remains stable, citing easing supply pressure and firmer developer pricing.

Ricacorp Properties Ltd.: Ricacorp Properties Ltd. is mentioned in the article through its head of research, Derek Chan. He expects Hong Kong rents to rise 1%-2% month-on-month in May and June, with second-quarter gains exceeding 3.6%, and forecasts May home prices could rise 1.5% from April.

Goldman Sachs: Goldman Sachs raised its 2026 Hong Kong home-price growth forecast from an initial 5% to 12%, then to 15%, citing stronger-than-expected prices and rents. The bank kept its 2027 and 2028 forecasts unchanged at 7% and 4%, respectively.

AI generated, for reference only

What Happened When

October 2023：: Secondhand private residential price index last at this level before April 2026.

2024：: Private residential unit completions reached a high of 24,260 units.

December 2024：: Hong Kong residential rental index was flat or higher, marking the start of 17 consecutive months of increases through April 2026.

2025：: Private residential unit completions fell to 18,450 units.

June 2025：: Price index began recovery, gaining 10.51% by April 2026.

February 2026：: Month-on-month price increase of 1.58%.

March 2026：: Month-on-month price increase of 1.4%; secondhand price index at 313.8.

April 2026：: Secondhand private residential price index climbed to 316.6, up 0.89% month-on-month, marking 11th straight monthly rise. Rental index increased 0.59%, setting a sixth consecutive record high. Midsize homes outperformed; units 753-1,076 sq ft rose 1.5%, units 431-752 sq ft rose 1.4%.

April 28, 2026：: Sun Hung Kai Properties launched first batch of units at Lime Spark project in Tsuen Wan at average discounted price of about HK$17,177 per sq ft; all units sold same day.