Private property prices fall in August

Business | 30 Sep 2020 1:55 pm

Property prices fell for the second consecutive month in August.

The price indices of the private domestic flats were down by 1.07 percent month-on-month or 1.96 percent year-on-year to 380.6, the Rating and Valuation Department announced.

Prices for the first eight months gained by 0.37 percent. The prices of small units of 430 square feet or below fell by 0.7 percent, and medium-scale flats between 430 sq ft and 1,076 sq ft dropped by over 1 percent.

Prices of large units of 1,076 sq ft or above fell by 0.72 percent last month.

The rental indices gained for three consecutive months. It was up by 0.39 percent month-on-month to 181.7 in August. But it dived by 9.2 percent year-on-year. For the first eight months, rents fell by 4.2 percent.

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