Hong Kong’s lived-in home prices rose 1.4 per cent in March, bringing the first-quarter increase to an accelerated pace of 4.4 per cent, according to the latest official data, indicating the property market’s resilience despite uncertainties brought about by the US-Israel war on Iran.

The monthly increase was slower than February’s 1.8 per cent, but 2026’s first-quarter rise was faster than the 2.11 per cent growth in the fourth quarter of 2025.

The city’s rental prices also extended their upwards streak that began in February 2023 to reach another historic high, data from the Rating and Valuation Department (RVD) released on Tuesday showed.

The latest data reflected the first full month of movement of the city’s second-hand home prices following the conflict that began with coordinated strikes on Tehran’s crucial government and military sites on February 28.

The conflict rattled global markets as oil prices skyrocketed, raising fears of a tightening monetary stance as a way to control inflation. The war had de-escalated in recent weeks following a ceasefire declared earlier this month.

“While uncertainties surrounding the US-Iran conflict may cause oil prices to spike and keep interest rate fluctuations in focus, major banks have already begun raising property valuations in response to the warming market,” Tsang Bo-man, senior associate director of valuation and advisory services at Colliers Hong Kong, said.