Private home prices in Hong Kong fell 0.5% in July, marking their first monthly decline since March 2025, according to data from the Rating and Valuation Department. The decline followed a revised 0.2% increase in June. Prices still rose 7.3% during the first seven months of the year and were up 12.8% from the March 2025 trough. Realtors expected short-term consolidation after the extended advance, citing pressure from a stock-market correction and China’s tighter curbs on outbound investment. The market has also been supported by positive sentiment, buoyant stock markets, firm demand from a growing number of mainland Chinese professionals and easing oversupply. Residential prices rose last year for the first time after falling nearly 30% from their 2021 peak.