Private Home Prices Soar To New Record

Private home prices in Hong Kong went up by another one percent in March – setting a new high for the 17th month in a row – and the 24th consecutive monthly rise.

However, figures from the Rating and Valuation Department showed on Monday that the climb was slower than the 1.8 percent monthly increase recorded in February.

While flats smaller than 1,075 square feet were selling for one percent more than the previous month, the price of bigger units rose by only around 0.3 percent.

The overall March figure was 14.7 percent higher than a year ago.

Rents, meanwhile, went up 1.1 percent in March from the previous month and 6.4 percent from a year before.

Rents increased by 1.2 percent during the first quarter of this year.