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Thursday, April 9, 2015, 15:54

HK home price index hits fresh high

HK home price index hits fresh high

This picture taken on June 21, 2013 shows a general view of residential and commercial buildings in Hong Kong. (AFP PHOTO / Dale de la Rey)

HONG KONG - Hong Kong is showing no signs of slowing in the property market, with the latest private residential housing price index hitting a record high of 291.1 in February, according to the Hong Kong Rating and Valuation Department.

The price hike of the 11th straight month represents a monthly increase of 2 percent and year-on-year rise of 19 percent.

The hike was led by small- to medium-sized units, with index for flats under 752 square feet salable area rising 20 percent year-on-year. For those with salable areas over 1,076 square feet, the price index increased 11 percent.

Meanwhile, the private residential rental index rose for the 12th straight to 167.8 in February, a 0.5 percent increase from the previous month and an 8 percent increase year-on-year.

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