The data released by the Hong Kong Rating and Valuation Department on Wednesday (November 27) showed that Hong Kong’s private residential house price index rose 0.62% month-on-month in October, ending a five-month decline.
The Rating and Valuation Department data also showed that Hong Kong’s private residential house price index fell back to 290.1 points in October, down 9.91% year-on-year.
In October, Hong Kong’s private residential house price index rose slightly month-on-month, but the rent increase fell. The private rent index for the month was 194.9 points, down about 0.31% month-on-month.
Hong Kong’s house prices have continued to fall this year, with a cumulative decline of 6.81% in the first 10 months, while the rent index in the same period has risen by 4.78% cumulatively.