by winston » Fri Feb 05, 2016 6:46 am
Home prices maintain downward trend
Private home prices fell for the third consecutive month, data from the Rating and Valuation Department showed yesterday.
Prices of small and medium homes units sized below 430 square feet dropped a record 3.76 percent in December from November while prices for private homes in general fell by 2.8 percent.
Home prices in December fell an aggregate of 6.8 percent from their September peak.
The department's price index in December stood at 285.2, a similar level to January 2015.
Compared with a year back, private home prices still rose 2.4 percent in December.
Compared to November, rents fell by 1.3 percent. For the whole year, they rose about 3 percent.
A more up-to-date indicator of home prices, Centa-City Index, shows an aggregate 9.54 percent fall between last September and January 29, 2016.
Henderson Land (0012) said it is going to raise prices by about 5 percent for its project Wellesley in Mid-Levels West after the Lunar New Year.
Henderson general manager of sales Thomas Lam Tat-man said 12 units have been sold, grossing the developer HK$364 million with an average per sq ft price of HK$23,700.
There was a case of forfeited deposit in the project, which was resold yesterday at HK$28.4 million, or HK$24,100 psf, almost 4 percent higher than its original price.
Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"