Home prices and rents continue to soar in July

Posted: Sep 8 2014Last Updated: Jul 14 2017
Price Increase6 September 2014 - Home prices continue to rise, hitting another record high. The Rating and Valuation Department (RVD) yesterday released its private domestic report for July, showing that the home price index of all classes increased 2.2% month-on-month to 255.6. This constitutes increases across the last four months, with a new high being set for the third consecutive month.
In particular, the home price index for small and medium sized units below 1,076 sq.ft. (saleable) rose 2.3% monthly to 255.8, hitting another new high. The price index for large units with areas above 1,076 sq.ft. (saleable) rose 0.4% to 250.9.
Rents also climbed upwards for the fifth consecutive month. The rent index for all classes increased 0.6% monthly to a record 157.7 in July.
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