The fragmentation of the Hong Kong property market: sales prices fell, and the rent index reached a record high

The Zhitong Finance App learned that the Hong Kong Property Price Index declined after 13 months of continuous rise. According to data from the Hong Kong Rating and Property Valuation Department, the Hong Kong Private Residential Property Price Index fell back to 321.5 in June, down 0.46% month on month and up 11.59% year on year.

The price index for small and medium-sized units (100 square meters or less) fell 0.46% month-on-month; the price index for larger units (100 square meters or more) fell 0.31% month-on-month. Among them, the price index for Class A properties (under 40 square meters) fell 0.35% month-on-month; Class B properties (40 to 69.9 square meters) fell 0.57% month-on-month; Class C properties (70 to 99.9 square meters) fell 0.55% month-on-month; Class D properties (100 to 159.9 square meters) fell 0.38% month-on-month; and Class E properties (160 square meters or more) remained flat month-on-month.

In terms of the rent index, the private residential rent index rose to 207.4 in July, reaching a new high, rising 0.78% month-on-month and 5.07% year-on-year. In the first seven months of this year, the private residential property price index increased by 7.31%; the rent index increased by 3.44%.