Hong kong house prices reach record high

Housing prices have reached a record high, according to the Rating and Valuation Department.

Values rose more than 20 per cent year-on-year in May 2015, Knight Frank's latest market overview notes, boosted by strong demand: the volume of new home sales surpassed 8,700 for the first half of 2015.

This positive market sentiment is encouraging deevelopers to become increasingly active, with the government's aim of boosting supply seeing three residential sites released for sales in the coming three months. Despite stock levels increasing, though, prices are expected to continue to rising.