HK home prices hit record high despite cooling measures

Hong Kong

HONG KONG'S home prices hit a record high in May, supported by strong demand and ample liquidity in one of the world's most expensive property markets, despite a series of tightening measures.

An official index of overall private home prices for May edged up 1.1 percentage points year-on-year to 298.4 points. That is 20 per cent higher than the year before and a second straight monthly gain.