Private Flat Prices Reverse Downward Trend

Hong Kong home prices have rebounded after several months of falls, with new government data showing private flat prices in September added 0.3 percent on year, and were up 0.4 percent compared to August.

The recovery was mainly led by medium-sized flats of between 430 and 752 square feet, which saw prices rise by 1.6 percent on year, while units of other sizes logged year-on-year declines in prices.

On a monthly basis, flats under 1,076 square feet all recorded increases in prices while those measuring above 1,076 square feet saw prices drop by one percent, according to the Rating and Valuation Department.

Overall, home prices were up nearly 0.9 percent for the first nine months of the year.

Rent prices reversed from a monthly upward trend to drop nearly one percent on month, and were down 9.2 percent from a year ago.