PRICE INDEX

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In order to analyse the trend of the Festival City Price Index (FCPI), the FCPI will be used to compare with the price index compiled by the Rating and Valuation Department (RVD) as shown in the chart above. D & E Class Private Domestic Price Index from the RVD is used for the comparison and it is adjusted such that its base year value is the same as that of the FCPI so as to create a common ground for the analysis.

According to the chart, both the FCPI and the price index from the RVD have been gently increasing throughout the decade, which means the property price of the majority of the medium-to-large residential units including those in Festival City has been increasing. This might be due to the increasing demand in the residential market where more and more active investors from Hong Kong, mainland China or even overseas feel optimistic in investing in the local real estate market while there has not been any significant increase in supply. However, despite the fact that the domestic price index trend has been increasing from 2010, there was a graduate decline since the middle of 2019 until now. It is believed that such graduate decline in the recent one and a half year is due to the social movement in the second half of 2019 and the global pandemic in 2020. The outbreak of the social movement created a lot of uncertain factors which stroke the confidence of the investors, while the pandemic in 2020 has further negatively influenced the economy and lifestyle in the whole world, making people feeling more gloomy on investing in the market. Though the global pandemic is still creating a lot of chaos around the world, it is believed that the situation may slowly be controlled in near future as there are more and more new treatments including vaccine has been invented, so it is expected that the local property market as well as the property price of Festival City will not further drop, and may even recover gradually.

Moreover, although the FCPI and the D & E Class Private Domestic Price Index have both been increasing in the recent decade and both of them have actually been sharing a similar pattern, it is obvious that the FCPI has a smaller growth compared to the overall market as shown in the above chart, implying that the Festival City is underperforming the overall market of similar properties in the recent decade.

Details of the price index data are shown in the table below.

MonthPrice Index of Festival CityRVD D&E
2010 - Mar100
100
2010 - Apr91.6516
100.3159558
2010 - May94.0657
98.89415482
2010 - Jun93.7318
99.47340706
2010 - Jul95.0334
102.7382833
2010 - Aug101.1756
104.0547657
2010 - Sep101.1756
106.0031596
2010 - Oct101.1756
106.6877304
2010 - Nov93.424
107.8462349
2010 - Dec92.785
106.7403897
2011 - Jan93.3502
110.6898368
2011 - Feb93.8329
111.6903633
2011 - Mar93.8665
113.6387572
2011 - Apr97.0499
117.0089521
2011 - May95.7975
118.6413902
2011 - Jun97.6925
120.2738283
2011 - Jul99.0147
118.7467088
2011 - Aug102.6341
116.4823591
2011 - Sep103.0158
115.6924697
2011 - Oct103.8575
116.3243813
2011 - Nov98.334
114.7446024
2011 - Dec87.8779
114.3759874
2012 - Jan86.8858
111.5323855
2012 - Feb97.2091
113.4281201
2012 - Mar91.577
116.6929963
2012 - Apr90.0297
120.1685097
2012 - May90.2277
123.3280674
2012 - Jun92.9744
125.4870985
2012 - Jul94.1937
126.2769879
2012 - Aug91.6767
126.5929437
2012 - Sep99.2496
128.2780411
2012 - Oct98.8116
130.0157978
2012 - Nov103.0652
130.0684571
2012 - Dec98.6917
129.7525013
2013 - Jan98.8848
130.5423907
2013 - Feb104.7722
134.0179042
2013 - Mar105.7961
131.7008952
2013 - Apr99.965
132.1221696
2013 - May97.356
132.3328067
2013 - Jun100.7102


130.4370721
2013 - Jul99.4779
131.6482359
2013 - Aug100.7163
132.3328067
2013 - Sep101.7441
131.490258
2013 - Oct99.1448
131.1743023
2013 - Nov98.9125
130.4370721
2013 - Dec97.7347
130.4897314
2014 - Jan99.3786
129.8578199
2014 - Feb103.1723
128.7519747
2014 - Mar98.061
128.5939968
2014 - Apr97.8361
129.4365456
2014 - May100.9252
130.1211164
2014 - Jun101.0174
131.8062138
2014 - Jul103.565
132.4381253
2014 - Aug101.4989
134.0179042
2014 - Sep104.5843
135.6503423
2014 - Oct106.7672
137.0194839
2014 - Nov106.9222
137.5987362
2014 - Dec108.7678
138.8098999
2015 - Jan109.699
140.600316
2015 - Feb111.1255
142.759347
2015 - Mar110.7051
143.0226435
2015 - Apr113.0257
144.3391259
2015 - May112.3787
144.9710374
2015 - Jun112.899
146.5508162
2015 - Jul118.0677
146.9194313
2015 - Aug116.8314
147.2880463
2015 - Sep112.7397
148.0779358
2015 - Oct114.8722
142.7066877
2015 - Nov110.5455
141.3375461
2015 - Dec110.3564
138.0726698
2016 - Jan110.3564
137.0721432
2016 - Feb107.9782
136.6508689
2016 - Mar104.0336
135.8609795
2016 - Apr108.4882
136.5982096
2016 - May107.6854
138.1253291
2016 - Jun107.3958
138.5466035
2016 - Jul110.6404
139.5471301
2016 - Aug114.1157
140.0210637
2016 - Sep114.51
144.181148
2016 - Oct119.0325
146.4981569
2016 - Nov119.0444
147.5513428
2016 - Dec119.619
147.4460242
2017 - Jan118.3449
148.1832543
2017 - Feb122.6569
149.6050553
2017 - Mar124.3204
150.8688784
2017 - Apr126.0883
152.764613
2017 - May131.0179
155.2395998
2017 - Jun129.0206
156.5034229
2017 - Jul129.0206
156.8193786
2017 - Aug131.9334
157.9778831
2017 - Sep131.5481
158.5571353
2017 - Oct131.4237
159.1890469
2017 - Nov132.7853
161.8746709
2017 - Dec137.2018
164.6129542
2018 - Jan137.2512
166.7719853
2018 - Feb139.3161
167.2985782
2018 - Mar146.1958
167.7198526
2018 - Apr144.3933
169.1943128
2018 - May147.4881
172.0379147
2018 - Jun152.0367
174.7235387
2018 - Jul146.5303
175.3027909
2018 - Aug158.0776
174.6708794
2018 - Sep156.6748
170.8267509
2018 - Oct144.8927
166.6666667
2018 - Nov138.2439
163.2438125
2018 - Dec136.5467
162.8751975
2019 - Jan139.106
164.7182728
2019 - Feb142.8542
166.6140074
2019 - Mar143.9732
169.7209057
2019 - Apr149.4771
174.7235387
2019 - May147.0528
177.1458662
2019 - Jun153.4491
174.8815166
2019 - Jul151.8959
175.4081095
2019 - Aug149.1132
173.5650342
2019 - Sep143.7745
170.2474987
2019 - Oct144.7532
168.2464455
2019 - Nov144.0847
169.40495
2019 - Dec145.3134
164.92891
2020 - Jan142.0834
167.2459189
2020 - Feb144.2593
164.8235914
2020 - Mar141.7498
164.4549763
2020 - Apr139.9414
163.4017904
2020 - May145.4619
167.1406003
2020 - Jun142.7122
170.7740916
2020 - Jul144.7585
168.7730384
2020 - Aug143.1894
168.0884676

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