HK private home prices hit record high for 12th straight month in October

Hong Kong

PRIVATE home prices in Hong Kong edged up for the 12th straight month in October, extending a record-breaking run of consecutive monthly gains and adding to home ownership constraints in one of the world's most expensive property markets.

Private home prices in October rose 0.53 per cent from September, according to an index compiled by the Rating and Valuation Department released on Thursday. The index climbed 12.5 per cent year-on-year. Property prices have been shooting up since April 2016 partly due to a supply and demand imbalance.