Hong Kong Home Prices Rise for Second Straight Month

Hong Kong's private home prices continued their upward trend, increasing for the second consecutive month in September. According to the Rating and Valuation Department, the official index rose 0.19 percent month-on-month to 320.8. This growth marks a 9.3 percent increase from the same period last year. For the first nine months of the year, prices have accumulated a rise of more than seven percent. The data also shows that prices for small and medium-sized flats rose 0.16 percent from the previous month, while larger units saw a 0.8 percent monthly increase. The rental index hit another record high, extending the upward streak to 11 months, with a 0.47 percent increase from August and a 6.2 percent higher reading than a year earlier. Rents have climbed 5.8 percent over the first nine months of the year.