Hong Kong home prices largely flat in August
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A general view of buildings skyline in Hong Kong, China, July 13, 2021. REUTERS/Tyrone Siu
HONG KONG, Sept 28 (Reuters) - Private home prices in Hong Kong were largely flat in August, stabilising after the first fall in 16 months in July, data from the Rating and Valuation Department showed on Monday.
• The private home price index edged up 0.06% in August, following July's revised monthly decline of 0.8%.
• July's decline was the first since March 2025 after prices gained around 13%. The home market lost momentum amid a stock market correction and China's tighter curbs on outbound investment.
• Prices have risen 7% in the first seven months of the year.
• Hong Kong's property market, one of the world's least affordable, has been supported by positive market sentiment, buoyant stock markets, firm demand from a growing number of mainland Chinese professionals and an easing oversupply.
• Residential prices in the Asian financial hub posted their first increase last year after tumbling nearly 30% from their peak in 2021.
(Reporting by Clare Jim; Editing by Sonali Paul)
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