Why Hong Kong rents are hitting records while home price gains lose momentum
Hong Kong’s lived-in home prices fell 0.8 per cent in the third quarter, their first quarterly decline after five quarters of gains, as a September rebound failed to fully offset a summer slowdown in the residential market.
Prices rose 0.19 per cent in September from August, marking a second consecutive monthly increase, according to data released by the Rating and Valuation Department on Wednesday.
The index reached 320.8, but remained 19.4 per cent below its September 2021 peak. Prices were still up about 7.1 per cent in the first nine months of this year.
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