Hong Kong home prices fall for fifth straight month in October [Reuters]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: Reuters
Hong Kong home prices fall for fifth straight month in October (Reuters) - Hong Kong private home prices slipped for a fifth consecutive month in October as the Asian financial hub grapples with its biggest political crisis in decades, although the pace of decline slowed. October prices dropped 1.3% in one of the world’s least affordable property markets compared with a revised fall of 1.7% in September, government data showed on Friday. “Looking at the social and market situation, the price index will continue to decline in November and December,” said Thomas Lam, executive director of property consultancy Knight Frank. He added that low interest rates would provide some support. The property sector has been relatively resilient compared with the tourism and retail sectors which have been hit badly by six months of often violent anti-government protests and the U.S.-China trade dispute. Hong Kong’s home prices are still up 4.6% so far this year. Aiming to support first-time home buye
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