Hong Kong home prices fall for first time in six months

Lower sales: A file picture showing a woman jogging past residential buildings in Hong Kong. Hong Kong’s residential sales volume tumbled 43.6% in June from May to a four-month low, according to Land Registry data. — Bloomberg

HONG KONG: Hong Kong’s private home prices fell for the first time in six months in June as consumer confidence was shaken by prolonged Sino-US trade tensions and growing social unrest at home.

Prices in one of the world’s least affordable property markets fell 0.8% in June from a month earlier, compared with a revised 1.3% increase in May, government data showed yesterday.