Hong Kong private home prices fell for the third straight month in August, accor...
FILE PHOTO: General view of an apartment building at the Tuen Mun neighborhood in Hong Kong, China, August 20, 2019. REUTERS/Kai Pfaffenbach
Prices dropped 1.37%, steeper than July’s revised 0.10% fall, and June’s 0.3% decline. It was the biggest percentage decline since December 2018, when prices dropped 2%.“Home prices in September are set to fall more steeply and we may see a drop of about 2%,” Chan said, adding anti-government demonstrations and the ongoing Sino-U.S. trade war were pressuring the market.
“The property market performance this year will depend on the situation of Sino-U.S. trade tension as well as the local economy and social conditions,” said Thomas Lam, executive director of Knight Frank.
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