Hong Kong Private Home Prices Rise for Sixth Consecutive Month

Hong Kong's private home prices rose by 0.9% in November, marking the sixth consecutive month of growth, according to data from the Rating and Valuation Department. This upward trend suggests a potential stabilization in the property market, which had previously experienced a nearly 30% decline from its peak in 2021. The decline was largely due to higher mortgage rates, a weak economic outlook, and emigration following COVID restrictions and national security laws.