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Hong Kong’s property prices hit record high
1 Nov

Hong Kong's private home prices extended their record-breaking run for the 11th consecutive month to reach an all-time high in September, but the rate of growth cooled slightly in the financial hub which is regarded as one of the most expensive place in the world.

The government index tracking the prices of private domestic homes edged up 0.27% in September from August, government data showed on Tuesday.

The index jumped 14.8% on-year, and has increased by 10.6% in the first nine months this year.

The city's leader Carrie Lam said earlier in October that the government had "no magic wands" to rein in Hong Kong's soaring housing prices, but pledged to increase land supply where possible and launch a new subsidised "starter homes" scheme to help families not eligible for cheap-rental public housing.

Income inequality is at its highest in over four decades in the city of 7.3 million people, fuelling unhappiness that has led to large-scale protests in recent.

A UBS report last month, ranking 20 global cities including New York, London, Tokyo and Paris, said Hong Kong was the world's most expensive city for apartments where the average living space is just 150 square feet (14 square metres

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