Core Viewpoint - Hong Kong's home prices have risen for six consecutive months, indicating a potential sustained recovery supported by policy measures and easing interest rates [1][3]. Price Trends - The official home price index reached 297.3 in November, the highest in 16 months, showing a year-to-date increase of 3.52% [1][2]. - Month-on-month prices increased by 0.9% in November, driven by expectations of interest rate cuts, improved US-China trade relations, a stock market rebound, and strong new-home sales [3]. Future Expectations - Price growth is anticipated to moderate in December, with an expected increase of around 0.5%, influenced by a tragic fire incident and upcoming Legislative Council elections [4][5]. - For the full year, home prices are projected to rise by approximately 3.3%, recovering from the previous three years of decline [5]. Market Dynamics - The second half of the year is expected to see a 4.2% price gain, marking the strongest performance since the second half of 2019, although prices remain 25.3% below the peak in September 2021 [6]. - The recovery began in April after the government reduced stamp duty, leading to an average sale of over 1,600 new homes per month [6]. Sales Performance - First-hand home sales reached 18,736 units in the first 11 months of the year, with expectations to hit around 20,000 units by year-end, the highest since 2013 [8]. - Flats priced below HK$10 million (approximately US$1.3 million) are estimated to constitute about 87% of primary market transactions this year [8].