Hong Kong poised for first annual decline in home prices in 12 years as coronavirus deepens recession, adds to unemployment woes

Hong Kong looks likely to record its first annual drop in home prices for 12 years as a fourth wave of coronavirus infections threatens to worsen the city’s recession and unemployment problem.The official price index for used homes slipped 0.2 per cent to 380.4 in November, the lowest level in seven months, according to an earlier-than-expected release from the Rating and Valuation Department on Tuesday.November’s index is 1.3 per cent lower than it was a year ago, and although it is 0.2 per…

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