Private Home Prices, Rents At Their Lowest In Months

Latest government figures showed both private home prices and rents in Hong Kong have slipped to their lowest levels in months.

According to data released by the Rating and Valuation Department on Thursday, private residential prices fell to a six-month low in October. The city-wide private domestic price indices dropped to 380.9 last month, from 383.1 in September.

That's the lowest figure since May when the indices hit 386.1.

Prices of luxury units saw the biggest decrease, with homes that are larger than 1,722 square feet in size recording a drop of almost 4 percent compared with the previous month.

For the first 10 months of the year, prices rose by about half a percent.

Private rentals, meanwhile, saw only a slight drop in October from the month before. The latest city-wide rental indices stood at 179.3, the lowest since June.

Bucking the overall trend, rents for luxury flats have risen, with flats of more than 1,722 square feet seeing the largest growth.