Citi Research said the latest Centa-City Leading Index (CCLI) in the week of 1-7 December gained 0.9% WoW to 131.61 from the 130.46 in the previous week, marking a new record high.
The latest CCL index for small/medium units (<1,076 square feet) showed smaller sized unit prices added 0.9% WoW to 130.67 from 129.53 a week ago, also marking an alltime
high.
With the 79-day "Occupy Central" movement coming to an end, the research house believes potential buyers may speed up home purchases which should drive further increase in home price.
For 2015, Citi forecast HK home prices will rise 8% even if the rate cycle turns in 2H 2015. It expects higher home prices on a slower rise in HK mortgage rates, an annual supply shortage of more than 6,000 units in 2015-17, salary rise of 4.5% amid low unemployment, government curbs filtering out weak buyers, and low secondary-market supply.
Developers should therefore continue to outperform landlords and REITs, Citi added.
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