HONG KONG : Hong Kong private home prices edged up 0.6 per cent in January from December, the first increase in seven months, official data showed on Friday, as reopening of the border with mainland China and expectations of peaking interest rates improved sentiment.
Private home prices in the financial hub fell a revised 15.2 per cent in 2022 in the first annual drop since 2008, dragged down by a weak economic outlook, rising mortgage costs and a COVID-19 outbreak at the beginning of that year. Hong Kong on Wednesday lowered stamp duties for first-time home buyers of property valued at HK$10 million or less - mainly small to mid-sized apartments - with a view to easing the burden on ordinary families.
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