Hong Kong property prices set record for 13th month - News Summed Up

Hong Kong property prices set record for 13th month


Reuters, HONG KONGHong Kong’s private home prices broke historic records for the 13th straight month last month, with the ascent showing no immediate signs of ending and analysts expecting the rise to continue into next year. Private home prices rose 1.08 percent last month, marking the fastest pace of growth in six months, data compiled by the Rating and Valuation Department and released yesterday showed. “Property prices are high and it’s unaffordable for most ordinary people,” Knight Frank senior director Thomas Lam said. Major property consultancies expect Hong Kong’s housing market to remain feverish in the coming year and climb a further 5 to 20 percent. “There is no easy or painless option to increase or expedite land supply,” the report stated.


Source: Taipei Times December 29, 2017 15:56 UTC



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