February 28, 2018 / 3:10 AM / 3 months ago

Hong Kong private home prices hit fresh highs in January

HONG KONG, Feb 28 (Reuters) - Private home prices in Hong Kong, one of the most expensive property markets in the world, shattered records for the 15th month in a row in January, the latest government data showed.

Home prices rose 1.27 percent in January from a month ago, and jumped 15.4 percent year-on-year, according to a government index compiled by the Rating and Valuation Department published on Wednesday.

On the other hand, a rental index that has been climbing to historic peaks for 10 months in a row dropped for the first time in over a year, with its January figure dipping 0.32 percent from December.

Analysts expect home prices, which surged 16.7 percent last year, to climb a further 5 to 20 percent in 2018.

Reining in a red-hot property market remains top priority for the local government, but prices have been rising non-stop since 2016 despite eight rounds of mortgage tightening measures on top of tax and regulatory policies. (Reporting by Venus Wu; Editing by Gopakumar Warrier)

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