Hong Kong's private home price index rose 0.19% in September 2026 to 320.8, its second straight monthly gain, while the rental index climbed 0.47% to a record 212.2, according to provisional Rating and Valuation Department (RVD) figures reported by The Standard and DimSum Daily.

TL;DR

  • Prices rose 0.19% month on month and about 7.08% year to date, but remain about 19.4% below the September 2021 peak of 398.1.
  • Rents rose 0.47% to an all-time high, the 11th straight monthly gain.
  • Analysts quoted by The Standard expect further gains in the fourth quarter. Those are forecasts, not RVD data.

What did the RVD data show for September 2026?

The RVD is the Hong Kong government department that compiles monthly private domestic price and rental indices. Reports of the provisional September figures put the price index at 320.8, up about 0.19% on August, and the rental index at 212.2, up about 0.47%. Larger flats (above about 1,075 sq ft) rose about 0.8% to 291.5, while small and medium flats rose about 0.16% to 322.6, according to DimSum Daily. The Standard reports prices up 9.3% and rents up 6.2% from a year earlier.

How far has the Hong Kong market recovered?

Prices are still about 19.42% below the September 2021 peak, based on DimSum Daily's calculation against the 398.1 index level. Rents have risen for 11 straight months, about 6.15% over that span and about 5.84% so far this year. In other words, the rental market has moved to new highs faster than prices have recovered.

What are analysts forecasting?

The Standard quotes Derek Chan Hoi-chiu of Ricacorp Properties as saying rents are rising without a matching surge in prices, which in his view makes buying more attractive than renting. He cites gross rental yields of about 3.5% for small units and above 2.6% for other flat types, against an effective mortgage rate cap of 3.25%, and forecasts a 1.3% rent rise and a 1.5% home value rise in the fourth quarter. Ricky Wong Kwong-yiu of Wheelock Properties describes the market as "gradually stabilising". Colliers keeps its forecast of 8% to 10% price growth for 2026 and 3% to 6% for 2027. The Standard also reports about 1,700 new-home sales in the first 27 days of October. These are opinions and forecasts from the named firms.

Why does it matter for property buyers and investors in Asia?

The September data shows a rent-led market in Hong Kong, which matters for anyone comparing yields across the region. For comparison, Singapore's URA reported private home prices up 1.4% and vacancy at 7.2% in the third quarter, which we covered in our Singapore Q3 report (https://propertynewsasia.com/singapore-private-home-prices-rise-1-4-in-q3-2026-as-completions-jump-and-vacancy-reaches-7-2-ura-data-show/). Earlier this year we reported on S&P's view that Hong Kong prices could rise another 5% (https://propertynewsasia.com/hong-kong-home-prices-could-rise-another-5-this-year-s-p/) and on Morgan Stanley's view that the recovery was extending beyond homes (https://propertynewsasia.com/hong-kong-property-recovery-extends-beyond-homes-to-office-retail-morgan-stanley/). This article is information only and not property or investment advice.

What is not confirmed?

We could not open the RVD's own statistics page, so the figures come from two news reports of provisional data. Index levels come from DimSum Daily only. October figures have not been published.

Frequently Asked Questions

How much did Hong Kong home prices rise in September 2026?

The private home price index rose about 0.19% month on month to 320.8, its second straight monthly gain, per provisional RVD figures as reported.

Are Hong Kong rents at a record high?

Yes. The rental index rose about 0.47% to 212.2, a new all-time high and the 11th consecutive monthly rise, per DimSum Daily.

How far are Hong Kong home prices below their peak?

About 19.42% below the September 2021 peak of 398.1, according to DimSum Daily.

Sources and Method

The Standard, 28 October 2026 (https://www.thestandard.com.hk/property/article/346718/Hong-Kong-home-prices-rise-02-percent-last-month-rents-hit-record). DimSum Daily, 28 October 2026 (https://www.dimsumdaily.hk/?p=648277). RVD monthly property market statistics were not accessed directly. Written as an original Dachex summary from the verified notes.