Update | Hong Kong home prices rise for 15th straight month to a record, but at a slower pace
The monthly home price index, which represents movements in the second-hand property market, rose 0.69pc to 336.1 in June, compared with 333.8 in May
Hong Kong’s residential property prices, already the world’s highest based on square footage, rose in June for the 15th straight month to a record, but at a slower pace.
Analysts predicted the city’s housing market will consolidate after a sharp rise in the first six months.
The monthly home price index, which represents movements in the second-hand property market, rose 0.69 per cent to 336.1 in June , compared with 333.8 in May , according to the Rating and Valuation Department’s data. Year on year, home prices jumped 21.6 per cent in June.
The momentum slowed compared with the growth of 1.21 per cent month-on-month in May and 2.67 per cent in April.
Derek Chan, head of research at Ricacorp Properties, said home prices have gone up 8.5 per cent since January.