Hong Kong home prices rise higher in March as rents peak for a fifth month straight

Hong Kong's lived-in home prices rose 1.4 per cent to a 28-month high in March, according to official data released by the Rating and Valuation Department. The property market index stood at 312.8, the highest since November 2023. This marks the fifth consecutive month of rising rents, with the secondary residential property segment experiencing a cumulative price gain of nearly 9.2 per cent over the past year. In the first quarter of this year alone, the index gained 4.4 per cent. The sustained recovery began 11 months ago and reflects the market's resilience despite uncertainties from global events such as the US-Israel war on Iran.