Hong Kong residential property prices reached record high in May

Residential property prices in Hong Kong reached a record high in May, increasing more than 20% compared with the same month last year. The growth in values continues despite the government’s series of property market cooling measures. The transaction volume of new homes reached over 8,700 for the first half of 2015, the data from the Rating and Valuation Department shows. According to an analysis by international real estate firm Knight Frank it is a result of strong housing demand, ample liq...