HONG KONG, March 31 (Reuters) - Hong Kong's private home
prices climbed for an 11th straight month in February, hitting
another record high, a government index released on Friday
In February, Hong Kong's private home prices index rose 1.1
percent from the previous month, to 312.8 from 309.4, according
to data from the Rating and Valuation Department. The February
figure was 14.3 percent higher than a year earlier.
The Asian financial hub has the world's least affordable
private housing and flats cost 18.1 times the gross annual
median income, according to a survey by Demographia, a private
Hong Kong's newly-selected leader Carrie Lam, who will take
office in July, said on Tuesday she was "very determined" to
tackle the high cost of housing, one of the top concerns of
foreign business executives about the city.
The government has vowed to increase housing supply and has
raised stamp duties to try to rein in prices, but to little
Property developers from mainland China have been submitting
record-breaking bids in Hong Kong land auctions, which is likely
to keep driving housing prices up.
(Reporting by Venus Wu; Editing by Richard Borsuk)