HK home prices hit record high in 2014

Hong Kong

HONG Kong's home prices rose last year to a record high, official data showed, as tightening measures failed to curb skyrocketing prices supported by strong local demand and tight supply in one of the world's most expensive property markets.

An index of overall private home prices for December edged up 3.5 percentage points year-on-year to 277.6 points. That's 13 per cent higher than the year before and a ninth straight monthly gain.