Hong Kong Rating and Valuation Department: Hong Kong property price index rose by 1.4% month-on-month in March, hitting a new high in over two years.

The Hong Kong Rating and Valuation Department announced that the private residential property price index in Hong Kong rose to 312.8 in March, reaching a new high in over two years. It has been rising for 10 consecutive months, with a month-on-month increase of about 1.4% and a year-on-year increase of 9.8%. The cumulative increase for the first quarter of this year is 4.4%. In March, the prices of small and medium-sized units rose by 1.4% month-on-month, while the prices of large units of 1076 square feet or above rose by 0.9%. The year-on-year increases were 9.9% and 7.5% respectively. Furthermore, the rental index rose to 202.2 last month, with a month-on-month increase of 0.6%. It has been rising for 5 consecutive months, with a year-on-year increase of 4.7%. Last month, the rental index for small and medium-sized units increased by 0.6%, while large units increased by 1.3%. The year-on-year increases were 4.6% and 6.1% respectively.