The "Eva Property Index" is a key reference for Hong Kongs property market, accurately reflecting residential price changes and trends. By integrating official transaction data with real-time market information, it ensures high accuracy and relevance. Designed as a simple tool for buyers and sellers, it aids informed decisions and monitors price trends. Collaboration with Professor Ho Chi Pui of HKU Economics Department further enhances its authority and credibility.
The "Eva Property Index" is a weekly released index. It is compiled based on official transaction data, second-hand property transaction records uploaded on the internet by real estate agents and related institutions to reflect changes in Hong Kong's second-hand property market prices trends.
The transaction records of the "Eva Property Index" are based on provisional sales and purchase agreements. In comparison, the "Eva Property Index" covers more second-hand estates compared to other market indices, the Hong Kong Special Administrative Region Government's Residential Price Index is compiled from formal sales and purchase agreement data of the second-hand property market, which requires a signing and registration process, making it unable to evaluate the latest situation in the second-hand property market promptly.
The "Eva Rental Index" is a weekly published index. It focuses on the rental market, combining actual transaction data with real-time market trading information to provide a reference for price changes and future trends. The "Eva Rental Index" is the only rental index in Hong Kong that is released weekly, offering insights into the latest rental market trends and reflecting changes in the rental prices of Hong Kong’s residential market.
The "Eva Property Index" and "Eva Rental Index" track transaction data of 147 second-hand private estates from official transaction data, major real estate agencies and the Residential Properties Sales Monitoring Authority. These data account for more than 32.96% of the total residential property sale and purchase agreements registered with the Land Registry, reflecting the general conditions of the market.
As property price and rent are influenced by characteristics such as unit size, floor level, building age, district, and transportation, the "Eva Property Index" and "Eva Rental Index" use the hedonic pricing method to control these factors, thereby obtaining a quality-adjusted second-hand property price index and rental index. The base periods for the price index and rental index are January 2016, with a base index of 100.
The "Eva Property Index" and "Eva Rental Index" reflect the overall trend of property price and rent in Hong Kong, while the "Regional Index" reflects the price and rent trends of four major regions (Hong Kong Island, Kowloon, New Territories East, and New Territories West).
The "Regional Index" is a derivative index of the "Eva Property Index" and "Eva Rental Index". It is calculated based on transaction data from all constituent estates, excluding luxury estates, divided into four major regions. The regional index provides a significant reference for summarizing differences in property price and rent trends across the four regions and serves as valuable information for home buyers selecting their target areas.
The "Eva Property Index" and "Eva Rental Index" are updated every Friday on 28Hse.
For inquiries about the Eva Property Index and Eva Rental Index, please contact Email: general@28hse.com
