HONG Kong Island's residential market continued to drift last month with asking prices falling in three of the four districts surveyed by property company Brooke Hillier Parker (BHP) this week.
The biggest slump was at Ap Lei Chau's South Horizon where prices dropped 5.25 per cent in February to $5,157 per square foot.
In the luxury Island South area prices fell by five per cent from $8,645 per square foot to $8,212.
Developments monitored in the survey included the Grand Garden, Parkview and Redhill Peninsula estates.
Mid-Levels recorded some of the highest price hikes when the territory's property market was booming, but the market downturn brought prices in the luxury district tumbling down - by 3.12 per cent last month to $8,498.
The survey focused on Dynasty Court, Estoril Court, Lyttelton Garden and Robinson Place.
Pokfulam was the only district to avoid the drop with values at Chi Fu Fa Yuen, Pok Fu Lam Garden and Baguio Villa remaining almost unchanged at $4,626 per square foot.