Hong Kong Feb home prices drop to 13-month low, hit by new Covid wave

Hong Kong private home prices dropped at a faster pace in February to their lowest since January 2021, official data showed on Tuesday, as the Asian financial hub was hit by a new wave of COVID-19 infections.

Prices declined 2.08% last month, according to the data, the biggest drop since November 2018, and compared to a revised fall of 0.89% in January.

Hong Kong, a major regional financial hub, this month was again ranked by survey company Demographia as the world's most unaffordable housing market for the 12th consecutive year.

Home prices started consolidating after reaching an all-time high in September. They have