Published:
Home prices sharply slipped by 1.4%
The biggest drops were in Kowloon and NT West.
According to Nomura, the pace of HK home price correction has finally started to accelerate. Home prices fell for the fourth consecutive week.
Last week’s 1.4% w-w decline is the sharpest w-w decline since 30 May 2010. This cumulative 2.86% decline over the past four weeks has now reduced the YTD gain to 3.7%.
Here's more from Nomura:
Across the territories, the prices decline was sharpest in Kowloon and NT West, with corrections of 3.9% and 1.1%, respectively.
HK Island and NT East were relatively flat with w-w changes of -0.3% and +0.2% w-w, respectively.
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