Property prices in Hong Kong rebounded by 1% in April, ending a three-month decline in a row, but property prices turned down again in May.
According to the Rating and Valuation Department, the price index of private residential properties was 384.4 in May, down 0.34% month-on-month, down 2.41% year-on-year, and down 2.4% in the first five months of this year.
The property price of small and medium-sized units fell by 0.44% month-on-month and 2.4% year-on-year; the property price of large-scale units rose for 2 consecutive months, up nearly 1.6% month-on-month, and decreased by about 2.9% year-on-year.
In addition, the Hong Kong private residential rent index in May was unchanged at 177.3 month-on-month, down about 0.6% year-on-year.
Overall rents fell by nearly 3% in the first five months.