Local residents have felt purchase of home flats in Hong Kong are unaffordable.

Local residents have felt purchase of home flats in Hong Kong are unaffordable.

Price indices of July increased 0.8% to 303.6 since June, accumulated 9% up since January.

Hong Kong Rating and Valuation Department (RVD) released the July report of Hong Kong’s private domestic price indices in Hong Kong. It recorded the indices up 0.8% to 303.6 from June, while soared 18.4% from a year earlier.

Meanwhile, the data shows that units of less than 430 feet at the New Territories are asking for HK$4.57 million in average price, HK$4.95 million at Kowloon and over HK$6 million at Hong Kong Island.

The report was reflected to the price of HK private housing is becoming more expensive.

The data from Rating and Valuation Department showed that Hong Kong’s private domestic price indices in Hong Kong advanced 0.8% from a month ago to 303.6 in July, hitting a new high. On a yearly basis, the figure soared 18.4%.

During the period, the price index for the private properties with an area of less than 100 sq. m. added 0.86% monthly to 304.8 while that for properties with an area of more than 100. sq. m. edged up 0.4% to 278.9.

In July, the rental index increased 0.46% to 174.4. On a yearly basis, it jumped 9.69%.

Source: AA Stocks News

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