The lived-in home-price index fell 1.7 per cent in February versus 1.2 per cent in January, according to the Rating and Valuation Department. Prices have fallen for 10 months in a row, losing 13.7 per cent in value.
More newly-built flats will enter the city’s residential market in the first half, adding to unsold units from the past two years. Home prices, already near the lowest in seven years, are likely to weakenfurther, analysts say.