RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Home prices fall the most in 15 months as virus spreads

This marks the third consecutive month of decline.

Hong Kong private home prices in February posted the biggest monthly decline since November 2018, falling 2.1% as the coronavirus spread across the financial centre.

The monthly price decline in one of the world’s least-affordable property markets was the third in a row, after January’s revised 0.1% drop, government data showed on 31 March. The February price index was about the same level recorded a year ago.

The epidemic brought Hong Kong to a virtual standstill last month, keeping shoppers, office workers and even protesters off the streets. The Chinese-ruled city’s property market has already been hit by the anti-government protests in the second half of last year.

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