Hong Kong Home Prices Rise to Highest Since 1997
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Hong Kong home prices rose to the highest since December 1997, according to Centaline Property Agency Ltd., defying government efforts to rein in speculation and prevent an asset bubble.
The Centa-City Leading Index rose 1.11 percent to 84.54 in the week ended Sept. 5, from 83.61 a week earlier, according to an e-mailed press release by Centaline, one of Hong Kong’s biggest property agencies. Transactions of used apartments at 10 of Hong Kong’s biggest private developments fell for a second straight week, Centaline said earlier.