Hong Kong home prices post first quarterly drop in six quarters; rents hit records

Hong Kong's lived-in home price index fell 0.8% in Q3, the first quarterly decline after five quarters of gains, despite a 0.19% monthly rise in September. Prices remain 19.4% below the September 2021 peak, while rents are hitting record highs, indicating a divergence between the sales and rental markets. The data suggests a cooling residential market amid high interest rates and economic uncertainty, with implications for property-related equities and the broader Hong Kong economy.

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