In November, the private residential price index in Hong Kong continued to decline for 7 consecutive months, reaching a new low in over six and a half years.

On December 27th, the Hong Kong Rating and Valuation Department announced that the latest private residential price index for November was 316 points, a month-on-month decrease of 1.99%. It has been declining for seven consecutive months, reaching the lowest level since February 2017 (over six and a half years ago). The index has fallen by about 5.59% in the first eleven months of this year. Among them, the price index for large residential units with a practical area of ​​approximately 1,075 square feet or more was 282.8 points, a month-on-month decrease of 1.94%. The price index for small and medium-sized units with a practical area of ​​approximately 1,075 square feet or less was 317.3 points, a month-on-month decrease of 1.98%. The private residential price index for November was about 20.62% lower than the historical high of 398.1 points in September 2021. The latest rental index for private residential properties in November was 186.8 points, a month-on-month increase of 0.65%. It has been rising for ten consecutive months and is the highest in nearly four years since December 2019. The rental index has increased by 6.44% in the first eleven months of this year.