Home Prices Slip To Lowest
Source: Bloomberg News |
November 12, 2011, Saturday
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Print Edition
Print Edition
HONG Kong's home prices slid to the lowest in more than six months last week as the threat of an economic recession continues to dent buyer sentiment, according to the city's biggest privately held realtor.
Prices fell 1 percent in the week ended last Sunday, its fifth straight decline and the biggest drop in 17 weeks, Centaline Property Agency Ltd said in an e-mailed statement yesterday.
The value of housing transactions plunged 50 percent to HK$22.5 billion (US$2.9 billion) in October from the same month of last year.
Prices fell 1 percent in the week ended last Sunday, its fifth straight decline and the biggest drop in 17 weeks, Centaline Property Agency Ltd said in an e-mailed statement yesterday.
The value of housing transactions plunged 50 percent to HK$22.5 billion (US$2.9 billion) in October from the same month of last year.
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