Hong Kong home prices halt 13-month upswing amid tax concerns

Hong Kong home prices end 13-month upswing as mainland Chinese tax fears weigh on demand

Hong Kong’s lived-in home prices fell 0.46 per cent in July, halting a 13-month upswing, according to the latest official data. The index tracking second-hand homes slipped to 321.5 in July from 323 in June, Rating and Valuation Department (RVD) data showed on Thursday. It was the first decline in 16 months – since April last year. Prices were flat in May last year before climbing steadily for 13 months from June. “As residential property prices have increased by 7.3 per cent year to date,...

By Cheryl Arcibal