HK home prices climb 0.69% in June to hit new peak

Hong Kong

HONG Kong's red-hot home prices extended their record-breaking run in June, although the pace of growth slowed, underscoring the challenges the city's new leader faces in reining in prices in one of the world's most expensive property markets.

An apartment of less than 200 square feet can cost as much as US$500,000 in the former British colony, making the prospect of owning a home a distant dream for many residents.