Hong Kong Private Home Prices Rise for Second Straight Month

Government data showed that private home prices in Hong Kong rose for the second consecutive month in September, increasing 0.19 percent month-on-month and 9.3 percent year-on-year. In the first nine months of the year, prices increased by more than seven percent. The rental index also hit a record high, rising 0.47 percent month-on-month and 6.2 percent year-on-year, with a 5.8 percent increase in the first nine months of the year.

Government data released on Wednesday indicated that private home prices in Hong Kong continued to rise for a second consecutive month in September, with the official index increasing by 0.19 percent month-on-month to 320.8. On a year-on-year basis, home prices rose by 9.3 percent. For the first nine months of the year, prices have accumulated a rise of over seven percent. In terms of unit size, prices for small and medium-sized flats climbed by 0.16 percent from the previous month and were up 9.3 percent year-on-year. Larger units witnessed a 0.8 percent monthly increase and a 9.5 percent annual gain. The rental index also escalated, marking its eleventh consecutive month of growth. The September reading was 212.2, up 0.47 percent from the previous month and 6.2 percent higher than at the same time last year. For the first nine months of the year, rents have increased by 5.8 percent.