香港私人住宅售价指数连升6个月 中新社香港12月29日电 (记者 魏华都)香港特区政府差饷物业估价署29日公布，2025年11月份香港私人 住宅售价指数为297.3点，按月上升0.9%，连升6个月。 12月29日，香港特区政府差饷物业估价署公布，2025年11月份香港私人住宅售价指数为297.3点， 按月上升0.9%，连升6个月。图为2021年8月拍摄的高楼林立的维港两岸。 中新社记者 张炜 摄 整体而言，市场普遍认为香港楼价已触底而且出现反弹，相信来年升势可以延续。(完) 来源：中国新闻网 编辑：付健青 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 利嘉阁地产研究部主管陈海潮表示，11月份楼价持续上升，且升幅再次加快，主要受惠于市场憧憬再次 降息、中美两国经贸团队达成共识，加之股市反弹及新盘热卖所刺激。 租金方面，11月份租金指数升至200.7点，创下历史新高，按月升0.2%。陈海潮预料新来港人士租务需 求会继续刺激租 ...

智通财经APP获悉，香港差饷物业估价署数据显示，今年11月香港私人住宅楼价指数报297.3点，月环 比微升0.92%，连升6个月，同比升1.99%；今年首11个月累升2.8%。另外，11月份租金指数为200.7点， 月环比升0.2%，同比升4.59%；今年首11个月累升4.26%。 ...

总结2025年一手私宅市场，截至12月8日为止，买卖登记量值分别录得1.8819万宗及2092.76亿港元，料 全年相关量值最终可达约1.994万宗及约2210亿港元，将较去年分别再升23%及7%。一手私宅登记量已 是连续3年录得升幅，除进一步上试高位外，亦创近6年最多及近21年次多。至于2025年每宗一手私宅平 均成交价料为1108万港元，同比将跌约12.7%，主因是年内细价物业登记占比较多所致。 截至今年12月8日，二手私宅买卖登记量值分别录3.5285万宗及2617.79亿港元，预期全年登记量最终录 约3.72万宗，较2024年的约3.22万宗上升16%，连涨两年，进一步脱离2023年的历史低位，创近4年新 高。至于全年成交总值料达2760亿港元，将同比上升18%，为连跌3年后首见反弹，料创近4年以来最 多；此番量值同步上升，反映楼市进一步复苏。按每宗二手私宅平均成交价计算，2025年料为741万港 元，将同比微升约1.5%。 根据土地注册处资料，截至今年12月8日，2025年香港整体私人住宅共录得5.4104万宗买卖登记，涉及 金额约4710.55亿港元。按走势推算，预计全年登记量最终可录得约5.72 ...

证券研究报告 房地产 行业专题报告 hyzqdatemark 2025 年 11 月 27 日 证券分析师 邓力 SAC：S1350525070006 dengli@jzsec.com 陈颖 SAC：S1350525110002 chenying02@huayuanstock.com 板块表现： 楼市迎复苏新章，价值沐重估春风 投资评级： 看好（维持） ——香港楼市跟踪专题报告 投资要点： 请务必仔细阅读正文之后的评级说明和重要声明 联系人 年初至今中国香港（以下简称"香港"）楼市回暖趋势延续。1）成交规模稳步回升： 2025 年 1-9 月，香港一手/二手私人住宅成交量分别同比+25%/+19%，成交量分别 创 2020/2022 年以来的同期新高。2）房价出现企稳信号：9 月，香港私人住宅售价 指数同比+1.81%，房价同比结束了连续 43 个月的下跌。同时，中原城市领先指数 在 10 月继续上行，显示量价复苏趋势仍在延续。3）库存去化压力边际改善：截至 2025 年 Q2 末，一手私人住宅已完工未售及在建库存较 2024Q3 末的历史峰值下降 7%，对应 MA12 个月的销售去化周期为 65.3 个月， ...

香港楼市正在逐步复苏。 清晨，罗湖口岸的过关人流已开始涌动。"我每天早上7点出门，从罗湖口岸过关去香港上班，全程算下来接近一个小时左右，即便是麻烦了点，但可以省 下不少钱。"在香港工作的陈胜（化名）之前租住在香港大学附近。现在，尽管每天需要花费两个小时在通勤上，但他并不后悔这一选择。 越来越多的数据显示，香港楼市正稳步复苏，租金也跟着水涨船高。美联"租金走势图"显示，今年10月以实用面积计算的私人住宅平均呎租报约38.71港 元，环比微跌约0.18%，连升8个月后稍作调整。不过，美联物业分析师岑颂谦认为，传统的租赁旺季结束，租金也仅仅轻微回落，今年前10个月香港租 金仍累计上涨2.76%，高于2019年7月的纪录高位38.33港元。"随着香港本地住屋需求增加，加上政府积极吸纳人才，私人住宅平均呎租短期内会高位震 荡，明年有望继续上升。" 陈胜告诉记者，自己之前在香港大学附近租住的房源，月租金较去年同期上涨近1000港元，相当于不到深圳40平方米的户型，租金要1.5万港元到1.6万港 元左右，而且那边租住的客源很多来自于通过香港高才通、优才计划赴港的人士。 （香港出租房源吴家明/摄） 现在，陈胜搬回了罗湖口岸旁 ...

清晨，罗湖口岸的过关人流已开始涌动。"我每天早上7点出门，从罗湖口岸过关去香港上班，全程算下来接近一个小时左右，即便是麻烦了点，但可以省下不少 钱。"在香港工作的陈胜（化名）之前租住在香港大学附近。现在，尽管每天需要花费两个小时在通勤上，但他并不后悔这一选择。 越来越多的数据显示，香港楼市正稳步复苏，租金也跟着水涨船高。美联"租金走势图"显示，今年10月以实用面积计算的私人住宅 平均呎租 报约38.71港元，环比 微跌约0.18%，连升8个月后稍作调整。不过，美联物业分析师岑颂谦认为，传统的租赁旺季结束，租金也仅仅轻微回落，今年前10个月香港租金仍累计上涨 2.76%，高于2019年7月的纪录高位38.33港元。"随着香港本地住屋需求增加，加上政府积极吸纳人才，私人住宅平均呎租短期内会高位震荡，明年有望继续上升。" 陈胜告诉记者，自己之前在香港大学附近租住的房源，月租金较去年同期上涨近1000港元，相当于不到深圳40平方米的户型，租金要1.5万港元到1.6万港元左右， 而且那边租住的客源很多来自于通过香港高才通、优才计划赴港的人士。 香港楼市正在逐步复苏。 责编：李丹 校对：杨立林 版权声明 （香港出租房源 ...

十大屋苑中，10月共有3个屋苑呎租环比逆市上升及1个屋苑持平，以海怡半岛的平均呎租环比升幅最 大，升约1.3%；沙田第一城及美孚新村则分别录约0.9%及约0.6%的环比升幅。 若以今年内租金计算，十大屋苑则有8屋苑上升。当中美孚新村及丽港城呎租升幅最大，同样较去年12 月上升约6.3%。相反，映湾园呎租较去年12月下跌约7.6%，康怡花园年内呎租亦跌约1.3%。 铁路盘方面，10月份部份铁路沿线屋苑的环比呎租升幅较大，其中利东站深湾轩环比升约8.9%，大埔 墟站新达广场呎租升约7.8%；土瓜湾站半山壹号、奥运站柏景湾、佐敦站港景峰分别录约7.6%、约6% 及约4.7%环比升幅。 智通财经APP获悉，据美联"租金走势图"10月份以实用面积计算的私人住宅平均呎租报约38.71港元，环 比微跌约0.18%，连升8个月后稍作调整。 美联物业分析师岑颂谦认为，纵使租赁旺季完结，租金亦仅轻微回落，今年首10个月租金仍累升约 2.76%，较对上一次的2019年7月纪录高位38.33港元依然高出约0.99%。 随着香港住屋需求殷切，加上政府积极吸纳人才，人才与受养人持续来港，相信私人住宅平均呎租短期 会于高位窄幅上落，明年有 ...

Core Insights - The Hong Kong real estate market is showing signs of stabilization after experiencing multiple cycles, with a notable increase in private residential price index by approximately 1.3% month-on-month in September, marking four consecutive months of price growth [1] - Factors contributing to the rise in property prices include a "super rebound" from previous declines, optimistic expectations regarding economic recovery, and a decrease in mortgage rates encouraging buyers to enter the market [2] Group 1: Market Performance - The private residential price index reached 292.5 points in September, reflecting a month-on-month increase of about 1.3% [1] - Over 45 transactions of new homes exceeding 100 million HKD were recorded in the second half of the year, totaling 10.2 billion HKD [1] Group 2: Buyer Sentiment and Trends - The number of negative equity residential mortgage loans decreased to 31,449, involving 156.8 billion HKD, with a quarterly reduction of 6,357 loans, attributed to rising property values [1] - Increased buyer interest from mainland China is noted, with a 7% rise in transactions by Mandarin-speaking buyers in Q3 compared to Q2, totaling 3,797 transactions [2] Group 3: Policy and Economic Factors - Continuous optimization of talent and investment policies in Hong Kong is attracting professionals, entrepreneurs, and high-net-worth individuals, injecting new vitality into the real estate market [2] - The high rental yield in Hong Kong remains a significant factor for mainland buyers considering property investments [2]

Investment Rating - The report maintains an "Overweight" rating for the real estate development and real estate services sectors [6]. Core Insights - The Hong Kong private residential market experienced a seasonal adjustment in August, with transaction volumes declining month-on-month, but showing significant year-on-year growth, indicating an improving market sentiment [1][2]. - Property prices have shown signs of stabilization, with a continuous increase for five months, reflecting a gradual recovery in the market [3]. - The report anticipates that the market will continue to improve due to the Federal Reserve's interest rate cuts, which are expected to lower local interest rates in Hong Kong, alleviating mortgage pressures and stimulating demand for property transactions [1][2]. Summary by Sections Market Performance - In August, the number of new residential transactions was 1,775, down 5% month-on-month, while the total transactions from January to August reached 12,924, up 13.4% year-on-year, marking the highest level since 2020 [2]. - The secondary market saw 3,131 transactions, a 10% decrease month-on-month, but maintained above 3,000 transactions for five consecutive months, with a year-to-date increase of 14.9% [2]. Price Trends - The Hong Kong private residential price index reached 288.5 in August, with a month-on-month increase of 0.14%, marking a cumulative increase of 4.62% over five months [3]. - Rental prices have also risen, with the rental index increasing by 1.85% year-on-year and 1.12% month-on-month, reaching the highest level since August 2019 [3]. Interest Rates and Mortgage Market - The one-month HIBOR average rose to 3.29% in September, up 0.25 percentage points month-on-month, continuing a three-month upward trend [4]. - The rental yield for Class A private residential properties in Hong Kong remained at 3.7%, exceeding the mortgage cap rate of 3.5%, indicating a persistent "renting over buying" phenomenon [4]. Recommended Companies - The report recommends focusing on companies with substantial land reserves and quality commercial assets, specifically: - Link REIT (823 HK) with a target price of 50.59 HKD and a "Buy" rating [9][22]. - Sun Hung Kai Properties (16 HK) with a target price of 111.51 HKD and a "Buy" rating [9][23]. - MTR Corporation (66 HK) with a target price of 29.90 HKD and an "Overweight" rating [9][25].

Core Insights - The completion of private residential units in Hong Kong has rebounded this year, with approximately 11,758 units completed in the first seven months, representing a significant increase of about 3,055 units or 35.1% compared to the same period last year [1][2] Group 1: Completion Data - In July 2025, around 1,695 private residential units were completed, reflecting a month-on-month decrease of approximately 35.7% [1] - The New Territories showed the best performance in July, with 1,388 units completed, a substantial increase of about 66.8% from June, marking the highest monthly completion since December 2024 [1] - The Kowloon district saw 299 units completed in July, a significant month-on-month decline of about 43.5%, but the total for the first seven months reached 7,557 units, an increase of approximately 1.8 times year-on-year [1] - The Hong Kong Island district had the lowest completion in July, with only 8 units, a drastic month-on-month drop of about 99.4%, yet the total for the first seven months was 1,859 units, a year-on-year increase of approximately 3.6 times [1] Group 2: Unit Size Distribution - Among the completed units this year, those with a usable area of approximately 431 square feet or less accounted for 6,297 units, representing about 53.6% of the total completions, an increase of approximately 28.5% year-on-year [1] - The completion of medium-sized private residential units, with a usable area between 431 to 752 square feet, reached 3,957 units, making up about 33.7% of the total, with a significant year-on-year increase of approximately 43.1% [2]